USA Financial Portformulas Corp Acquires Shares of 8,228 Melco Resorts & Entertainment Limited (MLCO)

USA Financial Portformulas Corp acquired a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,228 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its position in Melco Resorts & Entertainment by 9.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,047 shares of the company’s stock valued at $729,000 after purchasing an additional 2,198 shares during the last quarter. Standard Life Aberdeen plc raised its position in Melco Resorts & Entertainment by 1.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 132,389 shares of the company’s stock valued at $3,707,000 after purchasing an additional 2,459 shares during the last quarter. Financial Counselors Inc. raised its position in Melco Resorts & Entertainment by 20.4% in the 2nd quarter. Financial Counselors Inc. now owns 15,186 shares of the company’s stock valued at $425,000 after purchasing an additional 2,569 shares during the last quarter. TD Asset Management Inc. raised its position in Melco Resorts & Entertainment by 4.0% in the 2nd quarter. TD Asset Management Inc. now owns 67,100 shares of the company’s stock valued at $1,879,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Rothschild Investment Corp IL raised its position in Melco Resorts & Entertainment by 49.0% in the 3rd quarter. Rothschild Investment Corp IL now owns 10,730 shares of the company’s stock valued at $227,000 after purchasing an additional 3,530 shares during the last quarter. Hedge funds and other institutional investors own 39.38% of the company’s stock.

MLCO has been the subject of a number of recent research reports. Nomura dropped their target price on Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, July 9th. HSBC set a $33.00 target price on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Bank of America restated a “buy” rating and set a $35.10 target price (up previously from $34.40) on shares of Melco Resorts & Entertainment in a research report on Tuesday, July 24th. Zacks Investment Research downgraded Melco Resorts & Entertainment from a “hold” rating to a “strong sell” rating in a research report on Sunday, July 15th. Finally, BidaskClub downgraded Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.73.

MLCO stock opened at $17.99 on Tuesday. The firm has a market cap of $9.25 billion, a PE ratio of 19.55, a PEG ratio of 1.58 and a beta of 1.64. Melco Resorts & Entertainment Limited has a twelve month low of $15.62 and a twelve month high of $32.95. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.05.

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Melco Resorts & Entertainment 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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