Y Intercept Hong Kong Ltd Invests $1 Million in Melco Resorts & Entertainment Limited $MLCO

Y Intercept Hong Kong Ltd bought a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 138,342 shares of the company’s stock, valued at approximately $1,000,000.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth about $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter worth about $38,000. Brown Advisory Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth about $53,000. Aigen Investment Management LP acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth about $59,000. Finally, Solstein Capital LLC lifted its stake in shares of Melco Resorts & Entertainment by 74.9% during the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock worth $68,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 3.2%

MLCO stock opened at $8.08 on Wednesday. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $10.15. The firm has a market cap of $3.39 billion, a P/E ratio of 62.16 and a beta of 0.71. The company’s 50-day moving average price is $8.98 and its two-hundred day moving average price is $7.88.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Zacks Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Susquehanna raised their target price on shares of Melco Resorts & Entertainment from $8.00 to $10.00 and gave the stock a “positive” rating in a report on Wednesday, July 30th. Citigroup raised their target price on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.15.

Melco Resorts & Entertainment Company 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.