SG Americas Securities LLC Boosts Stock Position in Melco Resorts & Entertainment Limited $MLCO

SG Americas Securities LLC grew its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 190.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 461,100 shares of the company’s stock after purchasing an additional 302,609 shares during the period. SG Americas Securities LLC owned approximately 0.11% of Melco Resorts & Entertainment worth $2,619,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital Wealth Planning LLC purchased a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $4,136,000. Quantbot Technologies LP purchased a new position in shares of Melco Resorts & Entertainment during the third quarter worth $1,750,000. Clough Capital Partners L P acquired a new position in Melco Resorts & Entertainment during the third quarter valued at $8,739,000. Coronation Fund Managers Ltd. lifted its position in Melco Resorts & Entertainment by 2.9% during the fourth quarter. Coronation Fund Managers Ltd. now owns 8,335,219 shares of the company’s stock valued at $63,098,000 after purchasing an additional 231,305 shares during the period. Finally, US Bancorp DE boosted its holdings in Melco Resorts & Entertainment by 197.7% in the third quarter. US Bancorp DE now owns 177,209 shares of the company’s stock valued at $1,625,000 after purchasing an additional 117,692 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MLCO. CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. Morgan Stanley downgraded Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. CLSA lowered Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 target price on the stock. in a report on Friday, June 5th. Finally, Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.47.

Melco Resorts & Entertainment Stock Performance

MLCO opened at $5.27 on Wednesday. The stock has a market capitalization of $2.05 billion, a PE ratio of 9.09, a P/E/G ratio of 3.36 and a beta of 0.58. Melco Resorts & Entertainment Limited has a one year low of $5.07 and a one year high of $10.15. The business’s 50 day moving average price is $5.54 and its 200 day moving average price is $6.05.

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.