Sei Investments Co. Has $4.20 Million Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ARGA Investment Management LP increased its stake in Melco Resorts & Entertainment by 1.6% during the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock worth $171,688,000 after purchasing an additional 456,117 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Melco Resorts & Entertainment by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock worth $5,107,000 after acquiring an additional 238,884 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Melco Resorts & Entertainment by 88.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock worth $2,963,000 after acquiring an additional 178,993 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Melco Resorts & Entertainment by 47.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company’s stock valued at $2,045,000 after acquiring an additional 113,328 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Melco Resorts & Entertainment by 12.0% in the 4th quarter. SG Americas Securities LLC now owns 152,398 shares of the company’s stock worth $882,000 after purchasing an additional 16,305 shares during the period. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 1.3 %

MLCO stock opened at $5.33 on Thursday. The firm has a 50-day moving average price of $5.65 and a 200-day moving average price of $6.20. Melco Resorts & Entertainment Limited has a 12 month low of $4.78 and a 12 month high of $8.90. The stock has a market capitalization of $2.24 billion, a P/E ratio of -24.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup cut Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $6.00 in a research note on Monday, February 10th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.