Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is ARGA Investment Management LP's 5th Largest Position

ARGA Investment Management LP boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,652,424 shares of the company's stock after purchasing an additional 456,117 shares during the quarter. Melco Resorts & Entertainment comprises 5.6% of ARGA Investment Management LP's holdings, making the stock its 5th biggest position. ARGA Investment Management LP owned 7.06% of Melco Resorts & Entertainment worth $171,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position 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 worth $44,000 after purchasing an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Melco Resorts & Entertainment during the fourth quarter worth $58,000. Ballentine Partners LLC acquired a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth approximately $81,000. Leo Wealth LLC acquired a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth approximately $93,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $73,000. 39.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MLCO shares. Susquehanna reduced 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 research report on Monday, February 3rd. Morgan Stanley reiterated an "equal weight" rating and issued a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.00.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ:MLCO traded up $0.18 during midday trading on Friday, hitting $5.52. 4,084,121 shares of the stock were exchanged, compared to its average volume of 4,262,165. The business's 50-day moving average price is $5.94 and its 200 day moving average price is $6.14. Melco Resorts & Entertainment Limited has a 12 month low of $4.78 and a 12 month high of $9.39. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -25.09, a P/E/G ratio of 0.55 and a beta of 1.04.

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.