Coronation Fund Managers Ltd. Sells 1,520,255 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Coronation Fund Managers Ltd. decreased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,552,228 shares of the company's stock after selling 1,520,255 shares during the period. Melco Resorts & Entertainment comprises approximately 3.9% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 6th largest holding. Coronation Fund Managers Ltd. owned approximately 2.75% of Melco Resorts & Entertainment worth $66,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ARGA Investment Management LP lifted its holdings in Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after purchasing an additional 456,117 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company's stock worth $5,107,000 after purchasing an additional 238,884 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Melco Resorts & Entertainment by 88.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company's stock valued at $2,963,000 after buying an additional 178,993 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Melco Resorts & Entertainment by 124.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company's stock valued at $1,869,000 after acquiring an additional 133,086 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $858,000. Institutional investors and hedge funds own 39.62% of the company's stock.

Melco Resorts & Entertainment Stock Up 4.5 %

NASDAQ MLCO traded up $0.25 on Thursday, reaching $5.75. The stock had a trading volume of 3,487,518 shares, compared to its average volume of 3,926,704. The stock has a fifty day moving average price of $5.86 and a two-hundred day moving average price of $6.13. Melco Resorts & Entertainment Limited has a 12-month low of $4.78 and a 12-month high of $9.39. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -26.14, a P/E/G ratio of 0.55 and a beta of 1.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MLCO shares. Susquehanna dropped their target price 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 downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and cut their price objective for the company from $10.00 to $6.00 in a report on Monday. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.40.

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.