Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,200 shares of the company’s stock after selling 3,063 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Melco Resorts & Entertainment were worth $117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Melco Resorts & Entertainment by 47.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company’s stock worth $2,045,000 after buying an additional 113,328 shares during the period. Renaissance Technologies LLC lifted its position in Melco Resorts & Entertainment by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company’s stock worth $13,886,000 after buying an additional 1,150,500 shares during the period. ARGA Investment Management LP lifted its position in Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock worth $171,688,000 after buying an additional 456,117 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth about $407,000. Finally, Sei Investments Co. lifted its position in Melco Resorts & Entertainment by 20.4% during the fourth quarter. Sei Investments Co. now owns 725,100 shares of the company’s stock worth $4,198,000 after buying an additional 123,042 shares during the period. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Analysts Set New Price Targets

MLCO has been the topic of several recent analyst reports. UBS Group downgraded Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 target price on the stock. in a research report on Wednesday. Morgan Stanley upgraded 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 research report on Monday, March 3rd. Susquehanna reduced 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. Finally, Citigroup upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price target for the company in a research note 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.84.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $5.15 on Thursday. The firm has a market capitalization of $2.19 billion, a PE ratio of -23.41, a P/E/G ratio of 0.63 and a beta of 0.87. The business has a 50-day moving average of $5.28 and a two-hundred day moving average of $5.87. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $8.90.

Melco Resorts & Entertainment Company 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.