Thrivent Financial for Lutherans Acquires New Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Thrivent Financial for Lutherans acquired a new position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,418 shares of the company’s stock, valued at approximately $720,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Melco Resorts & Entertainment by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 239,056 shares of the company’s stock valued at $1,724,000 after purchasing an additional 21,945 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Melco Resorts & Entertainment in the first quarter valued at about $172,000. Cetera Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the 1st quarter worth about $196,000. Simplicity Wealth LLC boosted its holdings in Melco Resorts & Entertainment by 6.1% in the 2nd quarter. Simplicity Wealth LLC now owns 281,247 shares of the company’s stock valued at $2,098,000 after purchasing an additional 16,258 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Melco Resorts & Entertainment by 179.8% during the 2nd quarter. SG Americas Securities LLC now owns 154,480 shares of the company’s stock worth $1,152,000 after purchasing an additional 99,276 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $6.48 on Wednesday. Melco Resorts & Entertainment Limited has a 1 year low of $4.78 and a 1 year high of $9.56. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -29.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.05. The company’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $6.69.

Analysts Set New Price Targets

Separately, Bank of America reduced their price target 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.82.

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.