Healthcare of Ontario Pension Plan Trust Fund Has $13.25 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Healthcare of Ontario Pension Plan Trust Fund cut its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,701,300 shares of the company's stock after selling 85,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.39% of Melco Resorts & Entertainment worth $13,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth approximately $56,000. California State Teachers Retirement System grew its holdings in shares of Melco Resorts & Entertainment by 10.1% during the first quarter. California State Teachers Retirement System now owns 239,056 shares of the company's stock worth $1,724,000 after purchasing an additional 21,945 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Melco Resorts & Entertainment in the first quarter valued at $172,000. Cetera Advisors LLC bought a new position in shares of Melco Resorts & Entertainment in the first quarter valued at about $196,000. Finally, Simplicity Wealth LLC lifted its position in Melco Resorts & Entertainment by 6.1% during the 2nd quarter. Simplicity Wealth LLC now owns 281,247 shares of the company's stock worth $2,098,000 after buying an additional 16,258 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Trading Up 3.5 %

Shares of MLCO traded up $0.22 during trading hours on Friday, hitting $6.42. 3,327,519 shares of the stock traded hands, compared to its average volume of 3,352,023. The business has a fifty day moving average of $6.91 and a 200-day moving average of $6.73. The firm has a market capitalization of $2.83 billion, a PE ratio of -29.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. Melco Resorts & Entertainment Limited has a 1-year low of $4.78 and a 1-year high of $9.56.

Analysts Set New Price Targets

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

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.