Fintel reports that on April 15, 2024, Seaport Global initiated coverage of Melco Resorts & Entertainment Limited - Depositary Receipt () (NasdaqGS:MLCO) with a Buy recommendation.
Analyst Price Forecast Suggests 75.20% Upside
As of April 1, 2024, the average one-year price target for Melco Resorts & Entertainment Limited - Depositary Receipt () is 12.18. The forecasts range from a low of 8.38 to a high of $18.90. The average price target represents an increase of 75.20% from its latest reported closing price of 6.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Melco Resorts & Entertainment Limited - Depositary Receipt () is 4,410MM, an increase of 16.81%. The projected annual non-GAAP EPS is 0.51.
What is the Fund Sentiment?
There are 238 funds or institutions reporting positions in Melco Resorts & Entertainment Limited - Depositary Receipt (). This is a decrease of 18 owner(s) or 7.03% in the last quarter. Average portfolio weight of all funds dedicated to MLCO is 0.37%, a decrease of 0.01%. Total shares owned by institutions increased in the last three months by 0.35% to 213,777K shares. 
The put/call ratio of MLCO is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
ARGA Investment Management holds 29,336K shares representing 6.71% ownership of the company. In it's prior filing, the firm reported owning 27,641K shares, representing an increase of 5.78%. The firm decreased its portfolio allocation in MLCO by 16.64% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 21,866K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 20,752K shares, representing an increase of 5.09%. The firm decreased its portfolio allocation in MLCO by 16.47% over the last quarter.
Capital Research Global Investors holds 17,501K shares representing 4.00% ownership of the company. No change in the last quarter.
Capital World Investors holds 13,052K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 12,662K shares, representing an increase of 2.99%. The firm decreased its portfolio allocation in MLCO by 16.99% over the last quarter.
Coronation Fund Managers holds 12,359K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 11,721K shares, representing an increase of 5.17%. The firm decreased its portfolio allocation in MLCO by 38.30% over the last quarter.
Melco Resorts & Entertainment Background Information
(This description is provided by the company.)
The Company, with its American depositary shares listed on the Nasdaq Global Select Market , is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau, an integrated resort located at Taipa, Macau and City of Dreams , an integrated resort located in Cotai, Macau. Its business also includes the Mocha Clubs, which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City, a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila , an integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterraneanin the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos ('Cyprus Casinos'). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease.
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