Melco Resorts & Entertainment Limited $MLCO Shares Sold by Sei Investments Co.

Sei Investments Co. cut its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 18.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,400,430 shares of the company’s stock after selling 319,735 shares during the period. Sei Investments Co.’s holdings in Melco Resorts & Entertainment were worth $7,954,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MLCO. Parallel Advisors LLC grew its position in shares of Melco Resorts & Entertainment by 1,370.8% in the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock valued at $29,000 after purchasing an additional 4,702 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Melco Resorts & Entertainment during the fourth quarter worth $48,000. Hilton Head Capital Partners LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $63,000. U S Global Investors Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter worth $68,000. Finally, Quarry LP purchased a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth $68,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Analyst Upgrades and Downgrades

MLCO has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of 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. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Citigroup reduced their target price on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a research note on Friday, July 10th. CICC Research upgraded shares of Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. Finally, CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and dropped their price target for the company from $6.10 to $6.00 in a research note on Friday, July 10th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Hold” and an average target price of $7.32.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $5.73 on Monday. The stock’s fifty day moving average is $5.49 and its two-hundred day moving average is $5.69. Melco Resorts & Entertainment Limited has a 52 week low of $5.07 and a 52 week high of $10.15. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59.

Melco Resorts & Entertainment Profile

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.