Geode Capital Management LLC Sells 20,329 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Geode Capital Management LLC trimmed its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 336,679 shares of the company’s stock after selling 20,329 shares during the quarter. Geode Capital Management LLC’s holdings in Melco Resorts & Entertainment were worth $2,623,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment in the 2nd quarter worth $56,000. Hsbc Holdings PLC grew its stake in shares of Melco Resorts & Entertainment by 47.5% in the second quarter. Hsbc Holdings PLC now owns 52,486 shares of the company’s stock worth $395,000 after purchasing an additional 16,901 shares during the last quarter. Sei Investments Co. increased its holdings in Melco Resorts & Entertainment by 173.2% during the 2nd quarter. Sei Investments Co. now owns 602,058 shares of the company’s stock valued at $4,491,000 after purchasing an additional 381,653 shares during the period. Marshall Wace LLP raised its position in Melco Resorts & Entertainment by 22.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,950 shares of the company’s stock valued at $8,728,000 after purchasing an additional 217,520 shares during the last quarter. Finally, Solel Partners LP lifted its holdings in Melco Resorts & Entertainment by 34.2% in the 2nd quarter. Solel Partners LP now owns 1,328,000 shares of the company’s stock worth $9,907,000 after buying an additional 338,700 shares during the period. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $5.61 on Wednesday. The firm’s 50-day moving average price is $6.30 and its 200-day moving average price is $6.35. The company has a market capitalization of $2.35 billion, a PE ratio of -25.50, a P/E/G ratio of 0.98 and a beta of 1.05. Melco Resorts & Entertainment Limited has a 1-year low of $4.78 and a 1-year high of $9.39.

Analyst Ratings Changes

Separately, Morgan Stanley restated an “equal weight” rating and set a $7.50 target price (down previously from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

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.