Melco purchases 19.99% stake in Crown Resorts

James Packer at a 2015 news conference during their Melco Crown Entertainment partnership

James Packer at a 2015 news conference during their Melco Crown Entertainment partnership

Advisors Asset Management Inc.'s holdings in Melco Resorts & Entertainment were worth $160,000 as of its most recent SEC filing.

Ho said Melco executives would submit applications to the gaming regulatory authorities in relevant jurisdictions, including Victoria, Western Australia and New South Wales, after which he would welcome the opportunity to increase Melco's stake in Crown. Gateway Investment Advisers LLC now owns 86,742 shares of the company's stock valued at $1,960,000 after buying an additional 981 shares in the last quarter. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $32.66. Advisors Asset Management Inc. now owns 7,094 shares of the company's stock valued at $160,000 after buying an additional 1,153 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in shares of Melco Resorts & Entertainment by 393.1% during the first quarter. The stock had a trading volume of 2,072,952 shares, compared to its average volume of 2,757,061. Flowering Tree Investment Management Pte. Gulf International Bank UK Ltd now owns 5,450 shares of the company's stock valued at $123,000 after purchasing an additional 700 shares during the period.

MLCO has been the subject of a number of analyst reports. UBS Group downgraded Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating in a report on Wednesday, September 12th.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO)'s profitability analysis greatly helps in making investment decision. JPMorgan Chase & Co. upped their price objective on Melco Resorts & Entertainment to $24.00 in a research note on Wednesday, January 23rd. For the Current month, 1 analysts have assigned this stock as Buy where 2 assigned Outperform, 4 analysts believe it's a Hold, 0 said Underperform and only 0 assigned Sell rating. The stock now has an average rating of "Buy" and an average price target of $28.02. Market capitalization refers to the total dollar market value of a company's outstanding shares.

House prices slip in May in subdued market
Gardner also pointed out that May constituted the six consecutive month of house price gains below 1.0%. On a monthly basis, house prices dropped 0.2 percent, in contrast to a 0.3 percent rise a month ago.

Analyst's mean target price for the company is $27.98 while analysts mean suggestion is 1.9.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. During the same period in the prior year, the firm earned $0.32 earnings per share.

Under the terms of the license, Crown Resorts is required to ensure that it prevents "Stanley Huang Sun Ho or Stanley Ho Associate from acquiring any direct, indirect or beneficial interest in Crown, a Subsidiary of Crown, Melco Crown, or a Subsidiary of Melco Crown". The company now provides a dividend yield of 3.14% and payout ratio stands at 87.10%. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau. If you are reading this piece of content on another site, it was copied illegally and republished in violation of U.S. & worldwide trademark & copyright law.

Recommended News

  • New Land Rover Defender Plans Just Got More Interesting

    New Land Rover Defender Plans Just Got More Interesting

    Jaguar Land Rover said it has developed prototype " sensory steering wheel " technology in partnership with Glasgow University. By heating one side and not the other, the steering wheel tells drivers when to turn left or right, according to JLR .
    Atletico Madrid Planning Possible Legal Action Against Barcelona Over Antoine Griezmann Negotiations

    Atletico Madrid Planning Possible Legal Action Against Barcelona Over Antoine Griezmann Negotiations

    But Croatian midfielder Ivan Rakitic recently said with a smile: 'I would love to have Griezmann on my team. Someone somewhere is gonna pay that money and someone somewhere will come to an agreement with him.
    Raghava Lawrence Is 'Back On Board' As Director Of Akshay's 'Laxmmi Bomb'

    Raghava Lawrence Is 'Back On Board' As Director Of Akshay's 'Laxmmi Bomb'

    In this world, more than money and fame, self-respect is the most important attribute to a person's character. He even asked the makers to find a replacement for him and said that he will hand over the script to Akshay.
  • Meizu 16Xs will make you question $1,000 flagships

    Meizu 16Xs will make you question $1,000 flagships

    As far as performance, the 16Xs is using the Snapdragon 675 CPU and it's nice to see the company migrating to Snapdragon CPUs. Whether capturing a landscape or shooting attractions, it is able to produce extremely impactful and perspective photos.
    Huge cruise ship plows into tourist boat, dock in Venice

    Huge cruise ship plows into tourist boat, dock in Venice

    The towering, out-of-control cruise ship rammed into a dock and a tourist river boat on a busy Venice canal on Sunday morning. The collision happened at about 8:30 a.m. on the Giudecca Canal, a major thoroughfare that leads to Saint Mark's Square.

    Grace Kelly's granddaughter marries in Monaco

    Rassam, 37, is the son of French actress and model Carole Bouquet and French film producer Jean-Pierre Rassam. For her nuptials, Charlotte was wearing a short lace Saint Laurent dress with a pair of white strappy heels.
  • Bruins power play ideal in historically efficient Stanley Cup Final

    The Blues used a coaches' challenge on Kuraly's goal, believing it was offside, but the officials ruled it was a good goal. It went unanswered, sounding more like a sad trombone. "We obviously know that we've got to be better", Bergeron had said.
    Factory activity in China contracts amid trade dispute

    Factory activity in China contracts amid trade dispute

    Employees work at a production line inside an automobile factory in Hangzhou, Zhejiang Province, China, Jan. 18, 2016. As for the manufacturing industry, large enterprises' PMI registered 50.3 in May, down 0.5 percentage points.
    Delek's Ithaca clinches Chevron's British North Sea fields

    Delek's Ithaca clinches Chevron's British North Sea fields

    This includes interests in the Captain, Alba, Erskine, Alder and Britannia platforms. Upon completion, the group's enlarged portfolio will encompass 18 producing fields.
  • Black Hole Created In Lab Confirms Stephen Hawking's Prediction

    By adjusting the energy from focused laser beams, one side of the condensate is made denser than the other side. The renowned physicist Stephen Hawking passed away past year , but his groundbreaking work lives on.
    Miley Cyrus Puts ‘She Is Coming’ Condoms on Sale for $20

    Miley Cyrus Puts ‘She Is Coming’ Condoms on Sale for $20

    Now it's Friday, she's stuck true to her word and dropped She Is Coming , we just got it a little bit twisted is all. The merch also features a phone number, 1-833-SHE-ISMC.
    5-star WR Julian Fleming commits to Ohio State

    5-star WR Julian Fleming commits to Ohio State

    Defensively, he also had four interceptions, three of which he returned for touchdowns. Fleming's speed, physicality and skill set separate him from others in his class.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.