25,000 Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 25,000 shares of the company’s stock, valued at approximately $145,000.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock worth $5,107,000 after purchasing an additional 238,884 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Melco Resorts & Entertainment by 124.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock valued at $1,869,000 after acquiring an additional 133,086 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in Melco Resorts & Entertainment by 15.0% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company’s stock valued at $101,835,000 after acquiring an additional 1,705,872 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in Melco Resorts & Entertainment in the 3rd quarter valued at $720,000. Finally, ARGA Investment Management LP raised its holdings in Melco Resorts & Entertainment by 1.6% in the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after acquiring an additional 456,117 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MLCO. Morgan Stanley reiterated an “equal weight” rating and issued a $7.50 price target (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Susquehanna cut their price target on 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 downgraded Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the company from $10.00 to $6.00 in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Melco Resorts & Entertainment has a consensus rating of “Hold” and an average target price of $7.40.

Melco Resorts & Entertainment Stock Down 0.4 %

Shares of NASDAQ MLCO opened at $5.56 on Friday. Melco Resorts & Entertainment Limited has a 52-week low of $4.78 and a 52-week high of $8.90. The firm has a fifty day moving average of $5.71 and a 200-day moving average of $6.16. The stock has a market capitalization of $2.33 billion, a PE ratio of -25.27, a P/E/G ratio of 0.63 and a beta of 1.04.

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.