Bridger Management LLC lessened its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 64.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 354,544 shares of the company's stock after selling 629,150 shares during the period. Melco Resorts & Entertainment comprises approximately 1.1% of Bridger Management LLC's investment portfolio, making the stock its 19th largest holding. Bridger Management LLC owned 0.08% of Melco Resorts & Entertainment worth $2,053,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $28,989,000. BNP Paribas Financial Markets raised its position in shares of Melco Resorts & Entertainment by 206.5% in the fourth quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company's stock valued at $11,633,000 after purchasing an additional 1,353,617 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Melco Resorts & Entertainment by 1,240.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company's stock worth $7,771,000 after buying an additional 1,241,986 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Melco Resorts & Entertainment by 92.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock worth $13,886,000 after buying an additional 1,150,500 shares during the period. Finally, Trexquant Investment LP grew its stake in Melco Resorts & Entertainment by 105.2% in the 4th quarter. Trexquant Investment LP now owns 1,134,648 shares of the company's stock valued at $6,570,000 after buying an additional 581,778 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. UBS Group downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research report on Wednesday, April 30th. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target for the company in a research note on Thursday, April 10th. Susquehanna lowered their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research report on Monday, February 3rd. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $7.50 to $6.70 in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $6.84.
Check Out Our Latest Research Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Trading Up 3.7 %
NASDAQ MLCO traded up $0.21 during midday trading on Thursday, hitting $5.85. The company had a trading volume of 6,132,160 shares, compared to its average volume of 3,739,302. The company has a market capitalization of $2.49 billion, a PE ratio of -26.59, a P/E/G ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The firm has a 50-day moving average price of $5.26 and a 200-day moving average price of $5.79.
About Melco Resorts & Entertainment
(
Free Report)
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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