Charles Schwab Investment Management Inc. Buys 113,328 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Charles Schwab Investment Management Inc. increased its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 47.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 353,196 shares of the company's stock after buying an additional 113,328 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.08% of Melco Resorts & Entertainment worth $2,045,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake 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. Thrivent Financial for Lutherans acquired a new position in Melco Resorts & Entertainment during the third quarter worth approximately $720,000. ARGA Investment Management LP raised its stake in Melco Resorts & Entertainment by 1.6% in the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after buying an additional 456,117 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $858,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $407,000. Institutional investors and hedge funds own 39.62% of the company's stock.

Melco Resorts & Entertainment Price Performance

MLCO stock remained flat at $5.27 during trading hours on Monday. The company's stock had a trading volume of 3,695,834 shares, compared to its average volume of 3,577,610. Melco Resorts & Entertainment Limited has a 1 year low of $4.78 and a 1 year high of $8.90. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -23.95, a P/E/G ratio of 0.63 and a beta of 1.02. The firm has a 50 day moving average price of $5.67 and a 200-day moving average price of $6.21.

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Wall Street Analysts Forecast Growth

MLCO has been the topic of a number of research analyst reports. Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Citigroup lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Finally, 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 report on Monday, February 3rd. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.24.

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.