RBF Capital LLC Has $3.69 Million Position in Melco Resorts & Entertainment Limited $MLCO

Key Points

• RBF Capital reduced its Melco Resorts & Entertainment position by 23.5% in the first quarter, selling 200,000 shares and retaining 650,000 shares valued at approximately $3.69 million.
• Institutional ownership remained significant at 39.62%, with Goldman Sachs, Millennium Management and other firms increasing their holdings during the reported periods.
• Analyst sentiment was mixed, resulting in a consensus “Hold” rating and an average price target of $7.32, compared with MLCO’s opening price of $5.69.

RBF Capital LLC cut its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 650,000 shares of the company's stock after selling 200,000 shares during the period. RBF Capital LLC owned about 0.17% of Melco Resorts & Entertainment worth $3,692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLCO. Royal Bank of Canada raised its stake in Melco Resorts & Entertainment by 11.1% during the 1st quarter. Royal Bank of Canada now owns 180,161 shares of the company's stock worth $949,000 after buying an additional 18,010 shares during the period. Millennium Management LLC increased its holdings in shares of Melco Resorts & Entertainment by 69.3% in the first quarter. Millennium Management LLC now owns 1,915,978 shares of the company's stock worth $10,097,000 after acquiring an additional 784,403 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Melco Resorts & Entertainment by 16.4% during the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company's stock worth $31,700,000 after purchasing an additional 846,504 shares during the period. Geode Capital Management LLC raised its position in shares of Melco Resorts & Entertainment by 5.8% during the second quarter. Geode Capital Management LLC now owns 369,491 shares of the company's stock worth $2,669,000 after purchasing an additional 20,165 shares during the period. Finally, Creative Planning lifted its holdings in shares of Melco Resorts & Entertainment by 67.4% during the 2nd quarter. Creative Planning now owns 17,981 shares of the company's stock valued at $130,000 after purchasing an additional 7,239 shares in the last quarter. 39.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley lowered Melco Resorts & Entertainment from an "overweight" rating to a "negative" rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. dropped their target price on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a "neutral" rating on the stock in a report on Thursday, July 16th. CLSA raised shares of Melco Resorts & Entertainment from a "hold" rating to an "outperform" rating and cut their price target for the company from $6.10 to $6.00 in a research note on Friday, July 10th. CICC Research upgraded shares of Melco Resorts & Entertainment to an "outperform" rating in a report on Sunday, April 19th. Finally, Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.32.

Melco Resorts & Entertainment Price Performance

MLCO opened at $5.69 on Thursday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 3.52 and a beta of 0.59. The business's 50-day moving average price is $5.48 and its two-hundred day moving average price is $5.70. Melco Resorts & Entertainment Limited has a 1 year low of $5.07 and a 1 year high of $10.15.

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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