Melco Resorts & Entertainment Limited $MLCO Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 190.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 461,100 shares of the company’s stock after acquiring an additional 302,609 shares during the period. SG Americas Securities LLC’s holdings in Melco Resorts & Entertainment were worth $2,619,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Melco Resorts & Entertainment by 24.3% in the 4th quarter. Hsbc Holdings PLC now owns 138,229 shares of the company’s stock valued at $1,048,000 after buying an additional 27,035 shares during the period. Invesco Ltd. grew its stake in Melco Resorts & Entertainment by 20.7% during the 4th quarter. Invesco Ltd. now owns 34,011 shares of the company’s stock worth $257,000 after purchasing an additional 5,840 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Melco Resorts & Entertainment by 13.1% during the 4th quarter. Mackenzie Financial Corp now owns 64,404 shares of the company’s stock worth $489,000 after purchasing an additional 7,438 shares during the period. Numerai GP LLC increased its holdings in Melco Resorts & Entertainment by 162.3% during the 4th quarter. Numerai GP LLC now owns 111,833 shares of the company’s stock worth $847,000 after purchasing an additional 69,201 shares during the period. Finally, Millennium Management LLC raised its position in Melco Resorts & Entertainment by 583.0% in the 4th quarter. Millennium Management LLC now owns 188,280 shares of the company’s stock valued at $1,425,000 after purchasing an additional 160,715 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 2.0%

MLCO stock opened at $5.27 on Wednesday. The business has a 50 day moving average price of $5.54 and a 200 day moving average price of $6.05. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 3.36 and a beta of 0.58. Melco Resorts & Entertainment Limited has a fifty-two week low of $5.07 and a fifty-two week high of $10.15.

Wall Street Analysts Forecast Growth

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

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.