Hudson Bay Capital Management LP Has $7.78 Million Stake in Melco Resorts & Entertainment Limited $MLCO

Key Points

• Hudson Bay Capital Management LP reduced its stake in Melco Resorts by 42.4%, selling 624,906 shares and finishing the quarter with 848,596 shares worth about $7.78 million.
• Melco (NASDAQ:MLCO) is trading near $5.46 with 50‑day/200‑day moving averages of $5.98/$7.69, a 1‑year range of $4.55–$10.15, a market cap of roughly $2.13 billion and a P/E of 11.87.
• Analyst sentiment is mixed but positive overall — MarketBeat shows a consensus of "Moderate Buy" with an average price target of $9.06, while recent notes include UBS upgrading to Buy and JPMorgan lowering its target.

Hudson Bay Capital Management LP reduced its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 42.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 848,596 shares of the company's stock after selling 624,906 shares during the period. Hudson Bay Capital Management LP owned 0.20% of Melco Resorts & Entertainment worth $7,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLCO. Quarry LP bought a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at about $68,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at about $71,000. Global Retirement Partners LLC raised its holdings in Melco Resorts & Entertainment by 6,805.6% during the third quarter. Global Retirement Partners LLC now owns 8,632 shares of the company's stock worth $79,000 after acquiring an additional 8,507 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Melco Resorts & Entertainment during the second quarter valued at approximately $80,000. Finally, TD Private Client Wealth LLC boosted its position in Melco Resorts & Entertainment by 298.3% during the third quarter. TD Private Client Wealth LLC now owns 10,098 shares of the company's stock valued at $93,000 after purchasing an additional 7,563 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $5.46 on Friday. The business's 50 day simple moving average is $5.98 and its 200 day simple moving average is $7.69. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $10.15. The company has a market capitalization of $2.13 billion, a P/E ratio of 11.87 and a beta of 0.58.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group raised Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Monday, February 16th. Weiss Ratings reissued a "sell (d)" rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a research note on Friday, January 16th. Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Texas Capital raised shares of Melco Resorts & Entertainment to a "strong-buy" rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and an average price target of $9.06.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited NASDAQ: MLCO is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company's portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco's properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.

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