JPMorgan Chase & Co. Has $7.77 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

JPMorgan Chase & Co. lifted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1,240.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,342,132 shares of the company's stock after acquiring an additional 1,241,986 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Melco Resorts & Entertainment worth $7,771,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MLCO. GAMMA Investing LLC lifted its holdings in Melco Resorts & Entertainment by 140.7% during the fourth 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 bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $58,000. Empirical Asset Management LLC acquired a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $73,000. Wealthspire Advisors LLC bought a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $145,000. Finally, Virtu Financial LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $167,000. Institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Trading Down 0.2 %

Shares of Melco Resorts & Entertainment stock traded down $0.01 on Tuesday, reaching $4.82. 7,144,312 shares of the company were exchanged, compared to its average volume of 3,776,246. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -21.91, a PEG ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90. The company has a 50-day moving average of $5.41 and a 200 day moving average of $5.98.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research report on Thursday, April 10th. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Finally, Susquehanna lowered their price target 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Melco Resorts & Entertainment presently has an average rating of "Moderate Buy" and an average target price of $7.29.

About Melco Resorts & Entertainment

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.