Arrowstreet Capital Limited Partnership Takes $28.99 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,006,703 shares of the company’s stock, valued at approximately $28,989,000. Arrowstreet Capital Limited Partnership owned approximately 1.19% of Melco Resorts & Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Melco Resorts & Entertainment by 1,240.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company’s stock valued at $7,771,000 after acquiring an additional 1,241,986 shares during the period. Samalin Investment Counsel LLC grew its stake in Melco Resorts & Entertainment by 11.6% in the fourth quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company’s stock valued at $557,000 after purchasing an additional 10,000 shares during the last quarter. Sei Investments Co. raised its holdings in Melco Resorts & Entertainment by 20.4% in the fourth quarter. Sei Investments Co. now owns 725,100 shares of the company’s stock worth $4,198,000 after purchasing an additional 123,042 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $167,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $649,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Price Performance

Shares of MLCO opened at $5.33 on Thursday. The firm has a market capitalization of $2.24 billion, a PE ratio of -24.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. The company’s fifty day moving average price is $5.65 and its 200-day moving average price is $6.20. Melco Resorts & Entertainment Limited has a 1-year low of $4.78 and a 1-year high of $8.90.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $6.00 in a research note on Monday, February 10th. Susquehanna dropped their target price 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. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.