5 Best ADR Stocks To Buy Now

Below we present the list of the 5 Best ADR Stocks To Buy Now. For our methodology and a more comprehensive list of top foreign stocks to consider for your portfolio, please see the 11 Best ADR Stocks To Buy Now.

5. Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Number of Hedge Fund Shareholders: 30

Country of Origin: Hong Kong

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) shares were down 53% year-to-date less than two months ago but have surged by 132% since October 27, wiping out the stock’s 2022 losses and swinging them to a 6% gain. Part of the recent rally was due to the Chinese government renewing the gambling licenses of several casino operators, including the Hong Kong-based Melco Resorts.

That was particularly good news for Melco Resorts & Entertainment Limited (NASDAQ:MLCO), which does the bulk of its business in Macau when the region’s casinos aren’t shuttered, or travel to the autonomous region restricted. Melco suffered its 10^th straight quarter of declining results during the three month period ended June 30, as revenue plummeted by 48% to $296 million. Recent results aside, the company was in a solid financial position, with a 22-month liquidity runway as of the end of June. With Macau reopening in earnest, that liquidity should further improve and its 10-quarter run of futility come to an abrupt end.

Hedge fund ownership of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) hit a 5-year low during the fourth quarter of 2021, but has rebounded this year, rising by 43%. Two of the company’s biggest bulls added to their positions during Q3, with Ken Griffin’s Citadel Investment boosting its holding by 15% to 11 million shares and John Khoury’s Long Pond Capital raising its stake by 58% to 10.8 million shares.