Clough Capital Partners L P Grows Position in Melco Resorts & Entertainment Limited $MLCO

Clough Capital Partners L P boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 17.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,120,920 shares of the company’s stock after purchasing an additional 167,890 shares during the period. Clough Capital Partners L P’s holdings in Melco Resorts & Entertainment were worth $8,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in Melco Resorts & Entertainment by 243.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 168,551 shares of the company’s stock valued at $1,546,000 after acquiring an additional 119,449 shares during the period. Capital Wealth Planning LLC purchased a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $4,136,000. Quantbot Technologies LP purchased a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $1,750,000. State of New Jersey Common Pension Fund D boosted its holdings in Melco Resorts & Entertainment by 2,072.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 264,293 shares of the company’s stock valued at $2,424,000 after acquiring an additional 252,129 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its holdings in Melco Resorts & Entertainment by 2.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 8,335,219 shares of the company’s stock valued at $63,098,000 after acquiring an additional 231,305 shares during the period. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO opened at $5.44 on Thursday. The stock has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $6.27. The stock has a market capitalization of $2.11 billion, a PE ratio of 9.38, a PEG ratio of 3.00 and a beta of 0.58. Melco Resorts & Entertainment Limited has a 1 year low of $5.18 and a 1 year high of $10.15.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MLCO shares. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. CLSA lowered Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 price target on the stock. in a research report on Friday, June 5th. Finally, CICC Research upgraded Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $8.96.

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.