XTX Topco Ltd Trims Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

XTX Topco Ltd lessened its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 39,179 shares of the company’s stock after selling 2,971 shares during the quarter. XTX Topco Ltd’s holdings in Melco Resorts & Entertainment were worth $227,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Melco Resorts & Entertainment by 140.7% in the fourth 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. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth about $58,000. Empirical Asset Management LLC purchased a new position in Melco Resorts & Entertainment during the 4th quarter valued at about $73,000. Wealthspire Advisors LLC purchased a new position in Melco Resorts & Entertainment during the 4th quarter valued at about $145,000. Finally, Virtu Financial LLC bought a new stake in Melco Resorts & Entertainment during the fourth quarter worth about $167,000. 39.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MLCO. Susquehanna lowered 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 report on Monday, February 3rd. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Finally, Citigroup raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Melco Resorts & Entertainment presently has an average rating of “Moderate Buy” and an average target price of $7.29.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO opened at $5.10 on Friday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -23.18, a P/E/G ratio of 0.63 and a beta of 0.87. The business’s fifty day simple moving average is $5.33 and its two-hundred day simple moving average is $5.91. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $8.90.

About Melco Resorts & Entertainment

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.