Verition Fund Management LLC Acquires Shares of 110,121 Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Verition Fund Management LLC acquired a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 110,121 shares of the company's stock, valued at approximately $858,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in shares of Melco Resorts & Entertainment by 16.6% during the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company's stock worth $147,000 after acquiring an additional 2,686 shares in the last quarter. Creative Planning grew its position in Melco Resorts & Entertainment by 35.9% in the third quarter. Creative Planning now owns 15,962 shares of the company's stock valued at $124,000 after purchasing an additional 4,220 shares in the last quarter. Blue Trust Inc. increased its stake in Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock valued at $53,000 after buying an additional 5,191 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Melco Resorts & Entertainment during the 2nd quarter worth about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Melco Resorts & Entertainment by 12.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company's stock worth $437,000 after buying an additional 6,148 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Bank of America lowered their target price on Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.82.

Melco Resorts & Entertainment Trading Down 2.0 %

Shares of MLCO traded down $0.14 during midday trading on Tuesday, reaching $6.92. The stock had a trading volume of 2,561,611 shares, compared to its average volume of 3,379,183. The firm has a market cap of $3.05 billion, a PE ratio of -31.45, a P/E/G ratio of 0.95 and a beta of 1.05. The firm has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $6.61. Melco Resorts & Entertainment Limited has a one year low of $4.78 and a one year high of $9.56.

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.