Mcdonald Partners LLC Purchases 15,021 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Mcdonald Partners LLC raised its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,360 shares of the company’s stock after buying an additional 15,021 shares during the quarter. Mcdonald Partners LLC’s holdings in Melco Resorts & Entertainment were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Melco Resorts & Entertainment by 16.6% in the third quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock valued at $147,000 after buying an additional 2,686 shares during the period. Creative Planning raised its stake in shares of Melco Resorts & Entertainment by 35.9% during the 3rd quarter. Creative Planning now owns 15,962 shares of the company’s stock valued at $124,000 after purchasing an additional 4,220 shares during the period. GAMMA Investing LLC raised its stake in shares of Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after purchasing an additional 4,403 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Melco Resorts & Entertainment by 12.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock valued at $437,000 after purchasing an additional 6,148 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $58,000. 39.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup lowered Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $6.00 in a research note on Monday, February 10th. Susquehanna decreased their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research note on Monday, February 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $7.50 price objective (down from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.40.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ MLCO opened at $6.24 on Wednesday. The stock’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $6.15. Melco Resorts & Entertainment Limited has a twelve month low of $4.78 and a twelve month high of $8.90.

About Melco Resorts & Entertainment

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.