RBF Capital LLC Sells 200,000 Shares of Melco Resorts & Entertainment Limited $MLCO

RBF Capital LLC decreased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 23.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 650,000 shares of the company’s stock after selling 200,000 shares during the period. RBF Capital LLC’s holdings in Melco Resorts & Entertainment were worth $3,692,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MLCO. Parallel Advisors LLC lifted its position in Melco Resorts & Entertainment by 1,370.8% during the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after buying an additional 4,702 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $48,000. Quarry LP bought a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at about $68,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $63,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at about $71,000. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO stock opened at $5.69 on Thursday. The firm’s 50-day moving average is $5.48 and its 200-day moving average is $5.70. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 3.52 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.

Analyst Ratings Changes

Several research analysts recently commented on the company. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and reduced their price target for the company from $6.10 to $6.00 in a research report on Friday, July 10th. Citigroup lowered their price target on Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Morgan Stanley downgraded Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. Finally, CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of “Hold” and an average target price of $7.32.

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.