Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 47.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 353,196 shares of the company’s stock after buying an additional 113,328 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Melco Resorts & Entertainment were worth $2,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after purchasing an additional 4,403 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Melco Resorts & Entertainment by 12.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock worth $437,000 after acquiring an additional 6,148 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $58,000. Empirical Asset Management LLC acquired a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $73,000. Finally, Mcdonald Partners LLC increased its holdings in Melco Resorts & Entertainment by 19.4% in the 4th quarter. Mcdonald Partners LLC now owns 92,360 shares of the company’s stock valued at $535,000 after buying an additional 15,021 shares during the period. 39.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MLCO. Susquehanna dropped their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research report on Monday, February 3rd. Citigroup cut shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Melco Resorts & Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $7.24.

Melco Resorts & Entertainment Stock Down 2.4 %

MLCO opened at $5.27 on Friday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -23.95, a PEG ratio of 0.63 and a beta of 1.02. The business has a 50 day moving average of $5.67 and a 200-day moving average of $6.20. Melco Resorts & Entertainment Limited has a 12-month low of $4.78 and a 12-month high of $8.90.

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.