Capital Research & Management Co has recently announced that it has increased stake in Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) by 7.36%. After grabbing 17.5 million shares, the institutional investor is now in possession of 1.2 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 3.95% having worth around $122.16 million. Moreover, Eminence Capital LP increased its share by 0.25 million to have a control over 8.97 million shares. And Coronation Asset Management raised its holdings to 0.57 million shares by acquiring 7.39 million shares or 1.67% of the stake.
Melco Resorts & Entertainment Ltd ADR (MLCO) concluded trading on 01/10/24 at a closing price of $7.99, with 5.84 million shares of worth about $46.63 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -40.68% during that period and on Wednesday the price saw a loss of about -7.20%. Currently the company’s common shares owned by public are about 445.10M shares, out of which, 436.82M shares are available for trading.
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American Funds Small Cap World Fu, Vanguard International Value Fund, and CREF Stock Account are the top 3 mutual funds which are holding stakes in Melco Resorts & Entertainment Ltd ADR American Funds Small Cap World Fu is currently holding 20.75 million shares of worth totaling $144.85 million. The company recently came buying 1.0 million shares which brought its stake up to 4.68% of the company’s outstanding shares. Vanguard International Value Fund sold -1.11 million shares, after which its hold over company’s outstanding shares shrunk to 1.99%, leaving 8.83 million shares with the mutual fund that have a worth of about $61.64 million. CREF Stock Account, after buying 3.94 million shares, have now control over 0.89% of the stake in the company. It holds 0.0 shares of worth $27.5 million.
Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) started trading at $8.54, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 8.60, or with a loss of -7.20%. Stock saw a price change of -12.96% in past 5 days and over the past one month there was a price change of 2.04%. Year-to-date (YTD), MLCO shares are showing a performance of -9.92% which decreased to -39.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.80 but also hit the highest price of $14.45 during that period. The average intraday trading volume for Melco Resorts & Entertainment Ltd ADR shares is 3.12 million. The stock is currently trading -8.66% below its 20-day simple moving average (SMA20), while that difference is down -0.66% for SMA50 and it goes to -25.30% lower than SMA200.
Capital Research & Management Co acquired 17.5 million shares of Melco Resorts & Entertainment Ltd ADR having value of about $122.16 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.2 million shares in the company valued at close to $9588000.0, or have control over 7.36% stake in the company. Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) currently have 445.10M outstanding shares and institutions hold larger chunk of about 39.43% of that. Holding of mutual funds in the company is about 14.94% while other institutional holders and individual stake holders have control over 24.16% and — of the stake respectively.
The stock has a current market capitalization of $3.49B and its 3Y-monthly beta is at 1.15. It has posted earnings per share of -$0.84 in the same period. It has Quick Ratio of 1.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MLCO, volatility over the week remained 4.01% while standing at 4.59% over the month.
Analysts are in expectations that Melco Resorts & Entertainment Ltd ADR (MLCO) stock would likely to be making an EPS of $0.05 in the current quarter, while forecast for next quarter EPS is $0.05 and it is $0.49 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is $0.35 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.57 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 99.22% while it is estimated to increase by 2802.72% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Melco Resorts & Entertainment Ltd ADR (MLCO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.46. Out of those 13 Wall Street analysts, 10 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Susquehanna on December 15, 2023 offering a Positive rating for the stock and assigned a target price of $15 to it.
