Quantbot Technologies LP Takes Position in Melco Resorts & Entertainment Limited $MLCO

Quantbot Technologies LP purchased a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 190,838 shares of the company’s stock, valued at approximately $1,750,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coronation Fund Managers Ltd. lifted its holdings in Melco Resorts & Entertainment by 4.4% during the third quarter. Coronation Fund Managers Ltd. now owns 8,103,914 shares of the company’s stock valued at $74,313,000 after purchasing an additional 341,528 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Melco Resorts & Entertainment by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock valued at $31,700,000 after purchasing an additional 846,504 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock valued at $39,748,000 after buying an additional 5,211,263 shares in the last quarter. WCM Investment Management LLC bought a new position in Melco Resorts & Entertainment in the 3rd quarter worth approximately $35,665,000. Finally, Millennium Management LLC grew its stake in Melco Resorts & Entertainment by 69.3% in the 1st quarter. Millennium Management LLC now owns 1,915,978 shares of the company’s stock valued at $10,097,000 after buying an additional 784,403 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Down 5.0%

NASDAQ:MLCO opened at $5.84 on Thursday. The stock has a market cap of $2.28 billion, a P/E ratio of 12.70 and a beta of 0.58. The business’s 50-day moving average price is $6.43 and its two-hundred day moving average price is $8.00. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $10.15.

Analyst Ratings Changes

MLCO has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Thursday, January 22nd. Wall Street Zen cut Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. UBS Group upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Monday, February 16th. Texas Capital upgraded Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.06.

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.