LPL Financial LLC Has $200,000 Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

LPL Financial LLC cut its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 67.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,575 shares of the company's stock after selling 72,780 shares during the period. LPL Financial LLC's holdings in Melco Resorts & Entertainment were worth $200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at about $58,000. Empirical Asset Management LLC bought a new stake in Melco Resorts & Entertainment during the 4th quarter worth about $73,000. Wealthspire Advisors LLC acquired a new position in Melco Resorts & Entertainment during the 4th quarter valued at about $145,000. Finally, Virtu Financial LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $167,000. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Trading Up 2.9 %

Shares of NASDAQ MLCO traded up $0.16 during midday trading on Monday, reaching $5.51. The company's stock had a trading volume of 380,614 shares, compared to its average volume of 3,765,196. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $8.90. The stock has a 50 day simple moving average of $5.26 and a 200-day simple moving average of $5.82. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -24.98, a PEG ratio of 0.63 and a beta of 0.71.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MLCO shares. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $7.50 to $6.70 in a report on Monday, March 3rd. UBS Group cut Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research note on Wednesday, April 30th. Susquehanna decreased their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. Finally, Citigroup raised Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of "Moderate Buy" and an average price target of $6.84.

Melco Resorts & Entertainment 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.