Melco Resorts & Entertainment Limited (MLCO) Shares Sold by NN Investment Partners Holdings N.V.

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NN Investment Partners Holdings N.V. reduced its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,700 shares of the company’s stock after selling 6,200 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Melco Resorts & Entertainment were worth $692,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Creative Planning lifted its holdings in Melco Resorts & Entertainment by 26.2% during the 3rd quarter. Creative Planning now owns 59,783 shares of the company’s stock valued at $1,264,000 after purchasing an additional 12,415 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $1,748,000. Seven Eight Capital LP lifted its holdings in Melco Resorts & Entertainment by 31.4% during the 3rd quarter. Seven Eight Capital LP now owns 105,959 shares of the company’s stock valued at $2,241,000 after purchasing an additional 25,300 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $201,000. Finally, Hardman Johnston Global Advisors LLC lifted its holdings in Melco Resorts & Entertainment by 11.4% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,892,435 shares of the company’s stock valued at $209,225,000 after purchasing an additional 1,011,558 shares during the last quarter. Hedge funds and other institutional investors own 39.38% of the company’s stock.

MLCO opened at $18.17 on Thursday. Melco Resorts & Entertainment Limited has a fifty-two week low of $15.62 and a fifty-two week high of $32.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market cap of $8.82 billion, a PE ratio of 16.99, a PEG ratio of 1.51 and a beta of 1.64.

MLCO has been the subject of several research reports. BidaskClub raised Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Sanford C. Bernstein cut their price target on Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating for the company in a report on Monday, September 17th. They noted that the move was a valuation call. UBS Group downgraded Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a report on Wednesday, September 12th. HSBC set a $33.00 price target on Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, October 16th. Finally, Zacks Investment Research downgraded Melco Resorts & Entertainment from a “hold” rating to a “strong sell” rating in a report on Sunday, July 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Melco Resorts & Entertainment presently has a consensus rating of “Buy” and an average price target of $32.73.

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Melco Resorts & Entertainment Company Profile

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.

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Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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