Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Acquired by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC boosted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 11.6% during the 4th quarter, Holdings Channel reports. The fund owned 96,273 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Melco Resorts & Entertainment were worth $557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Melco Resorts & Entertainment by 57.3% during the third 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. lifted its holdings in shares of Melco Resorts & Entertainment by 124.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after purchasing an additional 133,086 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $720,000. ARGA Investment Management LP boosted 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 purchasing an additional 456,117 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Melco Resorts & Entertainment during the third quarter worth $858,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock opened at $5.54 on Monday. Melco Resorts & Entertainment Limited has a 12 month low of $4.78 and a 12 month high of $8.90. The company’s fifty day moving average price is $5.68 and its two-hundred day moving average price is $6.21. The firm has a market capitalization of $2.33 billion, a P/E ratio of -25.18, a P/E/G ratio of 0.63 and a beta of 1.02.

Analyst Ratings Changes

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

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.