SG Americas Securities LLC increased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,398 shares of the company’s stock after buying an additional 16,305 shares during the period. SG Americas Securities LLC’s holdings in Melco Resorts & Entertainment were worth $882,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of MLCO. GAMMA Investing LLC grew its holdings in shares of Melco Resorts & Entertainment by 140.7% during the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after buying an additional 4,403 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $81,000. Leo Wealth LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter worth $93,000. Empirical Asset Management LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $73,000. Finally, Creative Planning grew its stake 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. Hedge funds and other institutional investors own 39.62% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley reiterated an “equal weight” rating and set a $7.50 target price (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Melco Resorts & Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $9.40.
Melco Resorts & Entertainment Price Performance
MLCO opened at $5.92 on Wednesday. The business has a 50 day simple moving average of $6.01 and a 200-day simple moving average of $6.18. Melco Resorts & Entertainment Limited has a 12 month low of $4.78 and a 12 month high of $9.39. The stock has a market capitalization of $2.48 billion, a P/E ratio of -26.91, a P/E/G ratio of 0.57 and a beta of 1.05.
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.
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