Capula Management Ltd Acquires New Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Capula Management Ltd bought a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 4th quarter, Holdings Channel reports. The firm bought 96,646 shares of the company’s stock, valued at approximately $560,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MLCO. Renaissance Technologies LLC lifted its position in Melco Resorts & Entertainment by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company’s stock valued at $13,886,000 after purchasing an additional 1,150,500 shares during the period. Invesco Ltd. lifted its holdings in Melco Resorts & Entertainment by 216.2% in the fourth quarter. Invesco Ltd. now owns 31,745 shares of the company’s stock valued at $184,000 after acquiring an additional 21,707 shares during the period. Polymer Capital Management HK LTD boosted its position in Melco Resorts & Entertainment by 26.1% in the fourth quarter. Polymer Capital Management HK LTD now owns 493,091 shares of the company’s stock worth $2,855,000 after purchasing an additional 101,955 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Melco Resorts & Entertainment by 1,225.3% during the 4th quarter. Russell Investments Group Ltd. now owns 43,100 shares of the company’s stock valued at $250,000 after purchasing an additional 39,848 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Melco Resorts & Entertainment by 190.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 42,930 shares of the company’s stock worth $249,000 after purchasing an additional 28,142 shares during the period. Institutional investors own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MLCO. Susquehanna decreased their price target on shares of 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 downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $6.00 in a report on Monday, February 10th. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.24.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ:MLCO opened at $4.63 on Tuesday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -21.04, a P/E/G ratio of 0.63 and a beta of 0.87. The firm has a fifty day moving average price of $5.61 and a 200 day moving average price of $6.18. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week 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.