Capital Research Global Investors cut its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,895,979 shares of the company's stock after selling 4,142,719 shares during the quarter. Capital Research Global Investors owned approximately 4.26% of Melco Resorts & Entertainment worth $103,618,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $28,989,000. JPMorgan Chase & Co. boosted its stake in 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 valued at $7,771,000 after purchasing an additional 1,241,986 shares during the period. Renaissance Technologies LLC grew its holdings in Melco Resorts & Entertainment by 92.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock valued at $13,886,000 after buying an additional 1,150,500 shares during the last quarter. Trexquant Investment LP increased its position 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 worth $6,570,000 after buying an additional 581,778 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in shares of Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock worth $171,688,000 after buying an additional 456,117 shares during the last quarter. Institutional investors own 39.62% of the company's stock.
Melco Resorts & Entertainment Stock Performance
Shares of MLCO stock remained flat at $5.10 during mid-day trading on Friday. 3,471,739 shares of the stock were exchanged, compared to its average volume of 3,827,468. The firm's fifty day moving average is $5.33 and its 200-day moving average is $5.93. The company has a market capitalization of $2.17 billion, a P/E ratio of -23.18, a P/E/G ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a 52 week low of $4.55 and a 52 week high of $8.90.
Analyst Ratings Changes
MLCO has been the topic of several research analyst reports. Susquehanna lowered their price objective 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. Morgan Stanley upgraded shares of 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 report on Monday, March 3rd. Finally, Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.29.
Check Out Our Latest Stock Analysis on MLCO
Melco Resorts & Entertainment Company Profile
(
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.
Further Reading
Before you consider Melco Resorts & Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Melco Resorts & Entertainment wasn't on the list.
While Melco Resorts & Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
