Capula Management Ltd Purchases New Shares in Melco Resorts & Entertainment Limited $MLCO

Capula Management Ltd purchased a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 233,385 shares of the company’s stock, valued at approximately $1,326,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coronation Fund Managers Ltd. lifted its position in shares of Melco Resorts & Entertainment by 35.2% during the first quarter. Coronation Fund Managers Ltd. now owns 11,269,346 shares of the company’s stock worth $64,010,000 after purchasing an additional 2,934,127 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Melco Resorts & Entertainment by 67.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,198,664 shares of the company’s stock valued at $84,352,000 after purchasing an additional 3,700,980 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 in the last quarter. FIL Ltd bought a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $35,198,000. Finally, Balyasny Asset Management L.P. raised its position in Melco Resorts & Entertainment by 257.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company’s stock worth $29,253,000 after purchasing an additional 2,784,251 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MLCO. JPMorgan Chase & Co. decreased their price objective on Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. CICC Research upgraded Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. Wall Street Zen lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and decreased their price target for the company from $6.10 to $6.00 in a report on Friday, July 10th. Finally, Morgan Stanley cut Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $7.77.

Melco Resorts & Entertainment Stock Performance

Shares of Melco Resorts & Entertainment stock opened at $5.57 on Friday. The firm has a fifty day moving average of $5.47 and a two-hundred day moving average of $5.75. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 3.42 and a beta of 0.59. Melco Resorts & Entertainment Limited has a 52 week low of $5.07 and a 52 week high of $10.15.

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.