Clough Capital Partners L P raised its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,120,920 shares of the company’s stock after buying an additional 167,890 shares during the quarter. Clough Capital Partners L P owned approximately 0.27% of Melco Resorts & Entertainment worth $8,485,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $48,000. Quarry LP purchased a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $68,000. Hilton Head Capital Partners LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $63,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Melco Resorts & Entertainment in the 2nd quarter valued at $71,000. Finally, Amundi purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $79,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on MLCO. CLSA cut Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 target price for the company. in a report on Friday, June 5th. CICC Research upgraded Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. Finally, Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.96.
Melco Resorts & Entertainment Trading Up 0.4%
NASDAQ MLCO opened at $5.44 on Thursday. The stock has a market cap of $2.11 billion, a PE ratio of 9.38, a P/E/G ratio of 3.00 and a beta of 0.58. Melco Resorts & Entertainment Limited has a twelve month low of $5.18 and a twelve month high of $10.15. The stock has a fifty day simple moving average of $5.61 and a 200-day simple moving average of $6.27.
Melco Resorts & Entertainment Profile
Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.
In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.
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