Capital Research & Management Co recently announced the acquisition of new stake in Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.36% to 17.5 million shares with purchase of 1.2 million shares. This fresh investment now brings its stake to 3.95% valued currently at $155.24 million. In addition, Eminence Capital LP raised its holdings by 0.25 million to 8.97 million shares. And Coronation Asset Management has lifted its position by 8.39% or 0.57 million shares – to 7.39 million shares.
Currently, there are 445.10M common shares owned by the public and among those 436.82M shares have been available to trade.
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The top 3 mutual fund holders in Melco Resorts & Entertainment Ltd ADR are American Funds Small Cap World Fu, Vanguard International Value Fund, and American Funds Insurance Series -. American Funds Small Cap World Fu owns 21.87 million shares of the company’s stock, all valued at over $193.95 million. The company bought an additional 1.11 million shares recently to bring their total holdings to about 4.93% of the shares outstanding. Vanguard International Value Fund sold -1.11 million shares to see its total holdings shrink to 8.83 million shares valued at over $78.33 million and representing 1.99% of the shares outstanding. American Funds Insurance Series – now owns shares totaling to 0.86% of the shares outstanding.
The company’s stock has a 5-day price change of -1.98% and -1.25% over the past three months. MLCO shares are trading -10.82% year to date (YTD), with the 12-month market performance down to -40.12% lower. It has a 12-month low price of $6.80 and touched a high of $14.45 over the same period. MLCO has an average intraday trading volume of 3.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.89%, -0.74%, and -24.73% respectively.
Institutional ownership of Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) shares accounts for 39.34% of the company’s 445.10M shares outstanding. Mutual fund holders own 14.86%, while other institutional holders and individual stakeholders account for 24.08% and — respectively.
It has a market capitalization of $3.46B and a beta (3y monthly) value of 1.14. The earnings-per-share (ttm) stands at -$0.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.50% over the week and 4.53% over the month.
Analysts forecast that Melco Resorts & Entertainment Ltd ADR (MLCO) will achieve an EPS of $0.04 for the current quarter, $0.06 for the next quarter and $0.49 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of $0.35. Comparatively, EPS for the current quarter was -$0.57 a year ago. Earnings per share for the fiscal year are expected to increase by 99.32%, and 3182.49% over the next financial year.
Looking at the support for the MLCO, a number of firms have released research notes about the stock. Susquehanna stated their Positive rating for the stock in a research note on December 15, 2023, with the firm’s price target at $15.
