Trexquant Investment LP Purchases 581,778 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Trexquant Investment LP increased its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 105.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,134,648 shares of the company's stock after acquiring an additional 581,778 shares during the quarter. Trexquant Investment LP owned approximately 0.27% of Melco Resorts & Entertainment worth $6,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLCO. GAMMA Investing LLC increased its holdings in Melco Resorts & Entertainment by 140.7% during the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Melco Resorts & Entertainment by 12.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company's stock valued at $437,000 after purchasing an additional 6,148 shares in the last quarter. Samalin Investment Counsel LLC boosted its position in Melco Resorts & Entertainment by 11.6% during the fourth quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company's stock worth $557,000 after acquiring an additional 10,000 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at $58,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO traded down $0.11 on Thursday, hitting $4.99. 1,906,271 shares of the company were exchanged, compared to its average volume of 3,667,791. The firm has a market capitalization of $2.12 billion, a P/E ratio of -22.59, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The company's 50 day moving average price is $5.52 and its 200-day moving average price is $6.15.

Analysts Set New Price Targets

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

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.