5 High Growth Consumer Stocks to Buy

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

Revenue Growth YoY: 320.68%

Number of Hedge Fund Holders: 26

Based in Macau, Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is a developer, owner, and operator of integrated resort facilities in Asia and Europe. It currently operates integrated casinos Altira Macau, and City of Dreams, located in Macau. Its portfolio also includes several other properties.

On November 7, Melco Resorts & Entertainment Limited (NASDAQ:MLCO) released its financial results for Q3 2023. Its revenue went up by 321% y-o-y to $1.0 billion, while its net loss declined by 93% y-o-y to $16 million. The stock ranks highest on our list of 14 high growth consumer stocks to buy based on its revenue growth.

As of Q4 2023, 26 hedge funds owned shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO), valued at $392 million. Ricky Sandler’s Eminence Capital was the largest shareholder with ownership of 11.6 million shares valued at $103 million.

You may also like to read 14 Best Robotics Stocks To Buy Now and 13 Highest Yielding Dividend Stocks in the Dow

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