BNP Paribas Financial Markets Has $10.59 Million Position in Melco Resorts & Entertainment Limited $MLCO

BNP Paribas Financial Markets increased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 177.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,399,529 shares of the company’s stock after purchasing an additional 894,513 shares during the period. BNP Paribas Financial Markets’ holdings in Melco Resorts & Entertainment were worth $10,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MLCO. Envestnet Asset Management Inc. increased its stake in Melco Resorts & Entertainment by 243.3% during the third 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. Coronation Fund Managers Ltd. raised its holdings in shares of Melco Resorts & Entertainment by 4.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 8,103,914 shares of the company’s stock worth $74,313,000 after buying an additional 341,528 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of Melco Resorts & Entertainment in the 3rd quarter worth approximately $4,136,000. Quantbot Technologies LP acquired a new position in shares of Melco Resorts & Entertainment in the 3rd quarter worth approximately $1,750,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Melco Resorts & Entertainment by 2,072.7% in the third 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 last quarter. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Stock Up 4.4%

Shares of MLCO stock opened at $5.95 on Tuesday. The firm has a fifty day moving average of $5.63 and a 200-day moving average of $6.44. Melco Resorts & Entertainment Limited has a 12-month low of $5.18 and a 12-month high of $10.15. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 3.16 and a beta of 0.58.

Analyst Ratings Changes

A number of brokerages recently weighed in on MLCO. CLSA lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 price target for the company. in a report on Friday. CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, UBS Group upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Monday, February 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $8.96.

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.