Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,513 shares of the company’s stock after selling 3,323 shares during the quarter. HighTower Advisors LLC’s holdings in Melco Resorts & Entertainment were worth $148,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. ARGA Investment Management LP lifted its position in shares of Melco Resorts & Entertainment by 1.6% during the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock worth $171,688,000 after purchasing an additional 456,117 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Melco Resorts & Entertainment by 88.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock worth $2,963,000 after buying an additional 178,993 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Melco Resorts & Entertainment by 124.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after acquiring an additional 133,086 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $649,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter worth about $858,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 9.8 %

Shares of Melco Resorts & Entertainment stock opened at $4.80 on Friday. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.74 and a fifty-two week high of $8.90. The business’s fifty day moving average is $5.63 and its two-hundred day moving average is $6.19. The firm has a market cap of $2.01 billion, a PE ratio of -21.82, a P/E/G ratio of 0.63 and a beta of 0.87.

Analysts Set New Price Targets

Several brokerages recently commented on MLCO. Citigroup lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $6.00 in a research note on Monday, February 10th. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Finally, Susquehanna reduced their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.24.

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.