5,006,703 Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,006,703 shares of the company's stock, valued at approximately $28,989,000. Arrowstreet Capital Limited Partnership owned approximately 1.19% of Melco Resorts & Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MLCO. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after acquiring an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $58,000. Empirical Asset Management LLC purchased a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $73,000. Wealthspire Advisors LLC bought a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $145,000. Finally, Virtu Financial LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $167,000. Institutional investors own 39.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MLCO. Susquehanna dropped their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. Citigroup cut Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $10.00 to $6.00 in a report on Monday, February 10th. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.24.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO traded down $0.17 during trading on Monday, hitting $4.63. 5,675,145 shares of the company's stock traded hands, compared to its average volume of 3,635,974. The stock has a fifty day moving average of $5.61 and a two-hundred day moving average of $6.18. Melco Resorts & Entertainment Limited has a 12-month low of $4.55 and a 12-month high of $8.90. The firm has a market cap of $1.94 billion, a P/E ratio of -21.04, a PEG ratio of 0.63 and a beta of 0.87.

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.