State of Tennessee Department of Treasury Acquires Shares of 124,902 Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

State of Tennessee Department of Treasury purchased a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 124,902 shares of the company's stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Melco Resorts & Entertainment by 140.7% in the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock valued at $44,000 after purchasing an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $58,000. Empirical Asset Management LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $73,000. Wealthspire Advisors LLC purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth about $145,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Melco Resorts & Entertainment by 546.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company's stock worth $153,000 after purchasing an additional 22,370 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MLCO shares. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective for the company in a report on Thursday, April 10th. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Susquehanna decreased their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. Finally, UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price on the stock. in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.84.

Melco Resorts & Entertainment Trading Up 4.3 %

Melco Resorts & Entertainment stock traded up $0.24 on Thursday, hitting $5.88. 1,362,381 shares of the stock traded hands, compared to its average volume of 3,735,703. The business's fifty day simple moving average is $5.25 and its 200 day simple moving average is $5.80. The firm has a market cap of $2.50 billion, a P/E ratio of -26.73, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $8.90.

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.