Melco Resorts & Entertainment Limited $MLCO Stock Holdings Raised by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. increased its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 35.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,269,346 shares of the company’s stock after acquiring an additional 2,934,127 shares during the period. Melco Resorts & Entertainment makes up approximately 2.9% of Coronation Fund Managers Ltd.’s holdings, making the stock its 10th largest holding. Coronation Fund Managers Ltd.’s holdings in Melco Resorts & Entertainment were worth $64,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MLCO. SG Americas Securities LLC grew its position in Melco Resorts & Entertainment by 190.9% in the first quarter. SG Americas Securities LLC now owns 461,100 shares of the company’s stock valued at $2,619,000 after acquiring an additional 302,609 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Melco Resorts & Entertainment by 29.8% during the first quarter. Bleakley Financial Group LLC now owns 461,487 shares of the company’s stock worth $2,621,000 after purchasing an additional 105,887 shares in the last quarter. Clough Capital Partners L P boosted its stake in shares of Melco Resorts & Entertainment by 17.6% in the fourth quarter. Clough Capital Partners L P now owns 1,120,920 shares of the company’s stock valued at $8,485,000 after purchasing an additional 167,890 shares during the period. BNP Paribas Financial Markets grew its holdings in Melco Resorts & Entertainment by 177.1% during the 4th quarter. BNP Paribas Financial Markets now owns 1,399,529 shares of the company’s stock valued at $10,594,000 after purchasing an additional 894,513 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on MLCO shares. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and lowered their target price for the company from $6.10 to $6.00 in a research note on Friday, July 10th. JPMorgan Chase & Co. dropped their target price on Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. CICC Research upgraded Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. Finally, Morgan Stanley downgraded Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.77.

Melco Resorts & Entertainment Price Performance

MLCO opened at $5.47 on Thursday. The stock has a market capitalization of $2.12 billion, a PE ratio of 9.43, a P/E/G ratio of 3.39 and a beta of 0.59. The firm’s fifty day moving average price is $5.46 and its 200 day moving average price is $5.76. Melco Resorts & Entertainment Limited has a 12-month low of $5.07 and a 12-month high of $10.15.

About Melco Resorts & Entertainment

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.