Trexquant Investment LP Raises Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Trexquant Investment LP lifted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 105.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,134,648 shares of the company’s stock after acquiring an additional 581,778 shares during the period. Trexquant Investment LP owned 0.27% of Melco Resorts & Entertainment worth $6,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. ARGA Investment Management LP lifted its holdings in shares of Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock worth $171,688,000 after purchasing an additional 456,117 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $28,989,000. JPMorgan Chase & Co. boosted its holdings in shares of Melco Resorts & Entertainment by 1,240.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company’s stock valued at $7,771,000 after acquiring an additional 1,241,986 shares during the last quarter. Sei Investments Co. increased its stake in shares of Melco Resorts & Entertainment by 20.4% in the fourth quarter. Sei Investments Co. now owns 725,100 shares of the company’s stock worth $4,198,000 after acquiring an additional 123,042 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Melco Resorts & Entertainment by 88.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock worth $2,963,000 after purchasing an additional 178,993 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Down 9.8 %

Shares of MLCO opened at $4.80 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of -21.82, a PEG ratio of 0.63 and a beta of 0.87. The stock’s 50 day moving average is $5.63 and its two-hundred day moving average is $6.19. Melco Resorts & Entertainment Limited has a 12 month low of $4.74 and a 12 month high of $8.90.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna cut their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd. Citigroup cut Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and an average price target of $7.24.

Melco Resorts & Entertainment Profile

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.