Russell Investments Group Ltd. Grows Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Russell Investments Group Ltd. increased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 1,225.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,100 shares of the company’s stock after acquiring an additional 39,848 shares during the period. Russell Investments Group Ltd.’s holdings in Melco Resorts & Entertainment were worth $250,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of Melco Resorts & Entertainment by 190.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,930 shares of the company’s stock worth $249,000 after acquiring an additional 28,142 shares during the last quarter. Pinpoint Asset Management Ltd grew its holdings in Melco Resorts & Entertainment by 32.2% in the 4th quarter. Pinpoint Asset Management Ltd now owns 89,961 shares of the company’s stock valued at $521,000 after buying an additional 21,933 shares in the last quarter. Trexquant Investment LP raised its stake in Melco Resorts & Entertainment by 105.2% during the fourth quarter. Trexquant Investment LP now owns 1,134,648 shares of the company’s stock worth $6,570,000 after purchasing an additional 581,778 shares during the period. Geode Capital Management LLC increased its stake in Melco Resorts & Entertainment by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 364,090 shares of the company’s stock worth $2,108,000 after acquiring an additional 27,411 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Melco Resorts & Entertainment in the fourth quarter valued at $28,989,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Trading Up 4.1 %

NASDAQ MLCO opened at $5.10 on Friday. Melco Resorts & Entertainment Limited has a 12-month low of $4.55 and a 12-month high of $8.90. The business’s 50 day moving average is $5.36 and its two-hundred day moving average is $5.95. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -23.18, a PEG ratio of 0.63 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Citigroup upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 target price for the company in a report on Thursday, April 10th. Finally, Susquehanna cut their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $7.29.

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.