Renaissance Technologies LLC Has $13.89 Million Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Renaissance Technologies LLC lifted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 92.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,398,300 shares of the company's stock after buying an additional 1,150,500 shares during the period. Renaissance Technologies LLC owned about 0.57% of Melco Resorts & Entertainment worth $13,886,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Melco Resorts & Entertainment by 124.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company's stock worth $1,869,000 after acquiring an additional 133,086 shares during the last quarter. XTX Topco Ltd acquired a new position in Melco Resorts & Entertainment during the third quarter worth $328,000. Y Intercept Hong Kong Ltd bought a new position in Melco Resorts & Entertainment in the third quarter valued at $492,000. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock valued at $44,000 after buying an additional 4,403 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in Melco Resorts & Entertainment during the 4th quarter worth about $73,000. 39.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MLCO. Susquehanna lowered their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research report on Monday, February 3rd. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.29.

Melco Resorts & Entertainment Trading Up 2.0 %

Shares of MLCO traded up $0.10 during mid-day trading on Friday, reaching $4.84. The company's stock had a trading volume of 4,725,325 shares, compared to its average volume of 3,754,134. The stock has a market cap of $2.06 billion, a P/E ratio of -21.98, a PEG ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a 1-year low of $4.55 and a 1-year high of $8.90. The business has a 50-day simple moving average of $5.44 and a two-hundred day simple moving average of $6.01.

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.