Canada Pension Plan Investment Board Trims Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Canada Pension Plan Investment Board lessened its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 98.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,100 shares of the company's stock after selling 812,500 shares during the quarter. Canada Pension Plan Investment Board's holdings in Melco Resorts & Entertainment were worth $87,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after acquiring an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $73,000. Wealthspire Advisors LLC purchased a new stake in Melco Resorts & Entertainment in the fourth quarter worth about $145,000. Finally, Virtu Financial LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter worth about $167,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO traded up $0.32 during trading on Friday, hitting $5.35. The company's stock had a trading volume of 1,136,710 shares, compared to its average volume of 3,792,615. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $8.90. The company has a market cap of $2.27 billion, a PE ratio of -24.11, a P/E/G ratio of 0.63 and a beta of 0.87. The business's 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.85.

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.