Charles Schwab Investment Management Inc. Grows Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Charles Schwab Investment Management Inc. increased its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 124.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 239,868 shares of the company's stock after buying an additional 133,086 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.05% of Melco Resorts & Entertainment worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $720,000. Coronation Fund Managers Ltd. grew its holdings in shares of Melco Resorts & Entertainment by 15.0% in the third quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company's stock worth $101,835,000 after acquiring an additional 1,705,872 shares during the period. Ballentine Partners LLC purchased a new stake in Melco Resorts & Entertainment during the third quarter valued at $81,000. Leo Wealth LLC bought a new position in Melco Resorts & Entertainment in the third quarter valued at about $93,000. Finally, Signaturefd LLC lifted its holdings in Melco Resorts & Entertainment by 16.6% in the third quarter. Signaturefd LLC now owns 18,881 shares of the company's stock valued at $147,000 after acquiring an additional 2,686 shares during the period. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO traded down $0.11 during mid-day trading on Tuesday, reaching $6.34. 3,182,491 shares of the company traded hands, compared to its average volume of 3,366,277. Melco Resorts & Entertainment Limited has a 52 week low of $4.78 and a 52 week high of $9.56. The firm has a market cap of $2.66 billion, a PE ratio of -28.82, a PEG ratio of 1.01 and a beta of 1.05. The company's 50 day moving average price is $6.70 and its 200-day moving average price is $6.57.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $9.40.

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.