BNP Paribas Financial Markets Has $5.11 Million Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

BNP Paribas Financial Markets raised its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 57.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 655,572 shares of the company’s stock after buying an additional 238,884 shares during the period. BNP Paribas Financial Markets owned about 0.15% of Melco Resorts & Entertainment worth $5,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MLCO. Quantbot Technologies LP bought a new stake in Melco Resorts & Entertainment during the 3rd quarter worth approximately $207,000. Charles Schwab Investment Management Inc. boosted its stake in Melco Resorts & Entertainment by 124.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after purchasing an additional 133,086 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Melco Resorts & Entertainment during the third quarter worth $720,000. Coronation Fund Managers Ltd. increased its stake in shares of Melco Resorts & Entertainment by 15.0% in the third quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company’s stock valued at $101,835,000 after buying an additional 1,705,872 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Melco Resorts & Entertainment in the third quarter valued at about $81,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 1.2 %

MLCO stock opened at $6.48 on Wednesday. Melco Resorts & Entertainment Limited has a twelve month low of $4.78 and a twelve month high of $9.56. The company has a market cap of $2.85 billion, a P/E ratio of -29.45, a PEG ratio of 0.95 and a beta of 1.05. The business has a fifty day moving average of $6.93 and a 200-day moving average of $6.69.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered their price objective on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating for the company in a research report 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. Based on data from MarketBeat, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.82.

Melco Resorts & Entertainment Profile

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.