Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1,240.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,342,132 shares of the company's stock after buying an additional 1,241,986 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Melco Resorts & Entertainment worth $7,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Melco Resorts & Entertainment by 140.7% during the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock valued at $44,000 after acquiring an additional 4,403 shares during the last quarter. Samalin Investment Counsel LLC raised its stake in Melco Resorts & Entertainment by 11.6% in the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company's stock valued at $557,000 after purchasing an additional 10,000 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at $58,000. Empirical Asset Management LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth $73,000. Finally, Mcdonald Partners LLC grew its holdings in shares of Melco Resorts & Entertainment by 19.4% during the fourth quarter. Mcdonald Partners LLC now owns 92,360 shares of the company's stock worth $535,000 after buying an additional 15,021 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company's stock.

Analyst Upgrades and Downgrades

MLCO has been the subject of several research reports. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective for the company in a research note on Thursday, April 10th. Susquehanna cut their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $7.50 to $6.70 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.29.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO traded up $0.10 during midday trading on Friday, hitting $4.84. 4,725,325 shares of the stock were exchanged, compared to its average volume of 3,754,134. The firm has a market cap of $2.06 billion, a P/E ratio of -21.98, a P/E/G ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a 52-week low of $4.55 and a 52-week high of $8.90. The stock has a fifty day simple moving average of $5.44 and a 200 day simple moving average of $6.02.

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.