Duality Advisers LP Has $960,000 Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Duality Advisers LP reduced its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 20.5% during the fourth quarter, HoldingsChannel reports. The firm owned 108,251 shares of the company’s stock after selling 27,917 shares during the quarter. Duality Advisers LP’s holdings in Melco Resorts & Entertainment were worth $960,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLCO. FNY Investment Advisers LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $88,000. Greenleaf Trust acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $92,000. Tobam grew its position in Melco Resorts & Entertainment by 38.5% during the 4th quarter. Tobam now owns 13,728 shares of the company’s stock worth $122,000 after acquiring an additional 3,818 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in Melco Resorts & Entertainment during the 3rd quarter worth $175,000. Finally, Acadian Asset Management LLC increased its holdings in Melco Resorts & Entertainment by 29.9% in the 3rd quarter. Acadian Asset Management LLC now owns 20,045 shares of the company’s stock worth $198,000 after purchasing an additional 4,608 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLCO has been the topic of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.78.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock opened at $6.20 on Wednesday. The stock has a 50-day moving average of $7.43 and a 200-day moving average of $7.92. Melco Resorts & Entertainment Limited has a 1-year low of $6.10 and a 1-year high of $14.36.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.14 billion. The firm’s revenue for the quarter was up 224.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) EPS. Research analysts expect that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current year.

About Melco Resorts & Entertainment

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.