Leo Wealth LLC bought a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $93,000.
A number of other hedge funds and other institutional investors have also modified their holdings of MLCO. Signaturefd LLC grew its stake in shares of Melco Resorts & Entertainment by 16.6% during the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock valued at $147,000 after buying an additional 2,686 shares during the period. Creative Planning lifted its position in shares of Melco Resorts & Entertainment by 35.9% during the third quarter. Creative Planning now owns 15,962 shares of the company’s stock worth $124,000 after purchasing an additional 4,220 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Melco Resorts & Entertainment by 3.9% in the 2nd quarter. Clearbridge Investments LLC now owns 668,801 shares of the company’s stock worth $4,989,000 after buying an additional 24,905 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Melco Resorts & Entertainment by 5.3% during the second quarter. Cetera Investment Advisers now owns 169,277 shares of the company’s stock worth $1,263,000 after acquiring an additional 8,507 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Melco Resorts & Entertainment in the second quarter worth about $2,914,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.
Melco Resorts & Entertainment Stock Down 3.5 %
NASDAQ:MLCO opened at $6.66 on Thursday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -15.86, a P/E/G ratio of 1.31 and a beta of 1.06. Melco Resorts & Entertainment Limited has a 12 month low of $4.78 and a 12 month high of $9.56. The company’s 50 day moving average is $6.34 and its 200-day moving average is $6.82.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Thursday, July 18th. Bank of America dropped their price target on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.82.
Check Out Our Latest Stock Report on MLCO
About Melco Resorts & Entertainment
Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.
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