First Hawaiian Bank Acquires Shares of 7,700 Melco Resorts & Entertainment Limited (MLCO)

First Hawaiian Bank acquired a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,700 shares of the company’s stock, valued at approximately $163,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Melco Resorts & Entertainment by 9.1% in the second quarter. BlackRock Inc. now owns 24,200,196 shares of the company’s stock worth $677,605,000 after buying an additional 2,013,914 shares in the last quarter. Hardman Johnston Global Advisors LLC lifted its position in shares of Melco Resorts & Entertainment by 3.6% in the second quarter. Hardman Johnston Global Advisors LLC now owns 8,880,877 shares of the company’s stock worth $248,665,000 after buying an additional 310,573 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Melco Resorts & Entertainment by 14.5% in the second quarter. Bank of America Corp DE now owns 2,740,051 shares of the company’s stock worth $76,722,000 after buying an additional 347,489 shares in the last quarter. Platinum Investment Management Ltd. lifted its position in shares of Melco Resorts & Entertainment by 9.2% in the second quarter. Platinum Investment Management Ltd. now owns 2,737,767 shares of the company’s stock worth $76,657,000 after buying an additional 230,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Melco Resorts & Entertainment by 86.4% in the second quarter. Renaissance Technologies LLC now owns 2,312,600 shares of the company’s stock worth $64,753,000 after buying an additional 1,071,800 shares in the last quarter. Institutional investors and hedge funds own 39.78% of the company’s stock.

Shares of NASDAQ MLCO opened at $18.72 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment Limited has a 1-year low of $15.62 and a 1-year high of $32.95. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.40 and a beta of 1.48.

A number of research firms recently commented on MLCO. ValuEngine downgraded Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Sanford C. Bernstein decreased their target price on Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. They noted that the move was a valuation call. BidaskClub downgraded Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Wolfe Research upgraded Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 10th. 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.73.

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.

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

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