Trexquant Investment LP Boosts Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Trexquant Investment LP grew its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 105.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134,648 shares of the company’s stock after acquiring an additional 581,778 shares during the quarter. Trexquant Investment LP’s holdings in Melco Resorts & Entertainment were worth $6,570,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth about $58,000. Empirical Asset Management LLC acquired a new position in Melco Resorts & Entertainment during the fourth quarter worth about $73,000. Wealthspire Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the 4th quarter valued at about $145,000. Finally, Quantbot Technologies LP purchased a new position in Melco Resorts & Entertainment in the 3rd quarter worth approximately $207,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO opened at $4.80 on Friday. The firm’s 50-day moving average is $5.63 and its two-hundred day moving average is $6.19. The stock has a market capitalization of $2.01 billion, a P/E ratio of -21.82, a PEG ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a 12 month low of $4.74 and a 12 month high of $8.90.

Analyst Ratings Changes

Several research firms recently commented on MLCO. Citigroup cut 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. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Finally, Susquehanna decreased their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and an average target price of $7.24.

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.