Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 725,100 shares of the company's stock after purchasing an additional 123,042 shares during the period. Sei Investments Co. owned 0.17% of Melco Resorts & Entertainment worth $4,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after buying an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $58,000. Empirical Asset Management LLC purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter worth approximately $73,000. Wealthspire Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at $145,000. Finally, Virtu Financial LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $167,000. Institutional investors and hedge funds own 39.62% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MLCO. Susquehanna dropped their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research note on Monday, February 3rd. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Finally, Citigroup downgraded Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and lowered their target price for the company from $10.00 to $6.00 in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $7.24.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO traded down $0.17 on Monday, hitting $4.63. 5,675,145 shares of the company's stock were exchanged, compared to its average volume of 3,635,974. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -21.04, a P/E/G ratio of 0.63 and a beta of 0.87. The firm's 50-day moving average price is $5.61 and its two-hundred day moving average price is $6.18. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.54 and a fifty-two week high of $8.90.

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.