BNP Paribas Financial Markets Grows Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

BNP Paribas Financial Markets lifted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 57.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 655,572 shares of the company's stock after acquiring an additional 238,884 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Melco Resorts & Entertainment worth $5,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in Melco Resorts & Entertainment by 16.6% during the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company's stock valued at $147,000 after buying an additional 2,686 shares in the last quarter. Creative Planning raised its holdings in shares of Melco Resorts & Entertainment by 35.9% in the 3rd quarter. Creative Planning now owns 15,962 shares of the company's stock valued at $124,000 after purchasing an additional 4,220 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock valued at $53,000 after purchasing an additional 5,191 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $42,000. Finally, Headlands Technologies LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $56,000. Institutional investors own 39.62% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America reduced their price target on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and a consensus price target of $9.82.

Melco Resorts & Entertainment Stock Up 0.9 %

Shares of Melco Resorts & Entertainment stock traded up $0.06 on Wednesday, reaching $6.54. The stock had a trading volume of 1,574,252 shares, compared to its average volume of 3,352,766. The company has a 50 day moving average price of $6.93 and a 200 day moving average price of $6.67. Melco Resorts & Entertainment Limited has a 1 year low of $4.78 and a 1 year high of $9.56. The stock has a market capitalization of $2.88 billion, a P/E ratio of -29.45, a P/E/G ratio of 0.95 and a beta of 1.05.

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.