Capital Wealth Planning LLC Invests $4.14 Million in Melco Resorts & Entertainment Limited $MLCO

Capital Wealth Planning LLC acquired a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 451,089 shares of the company’s stock, valued at approximately $4,136,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in Melco Resorts & Entertainment by 8.3% during the second quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock worth $123,000 after buying an additional 1,295 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of Melco Resorts & Entertainment by 15.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock valued at $98,000 after acquiring an additional 1,819 shares during the period. Legal & General Group Plc boosted its stake in shares of Melco Resorts & Entertainment by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 146,728 shares of the company’s stock worth $1,061,000 after acquiring an additional 5,022 shares in the last quarter. Creative Planning boosted its stake in shares of Melco Resorts & Entertainment by 67.4% during the 2nd quarter. Creative Planning now owns 17,981 shares of the company’s stock worth $130,000 after acquiring an additional 7,239 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Melco Resorts & Entertainment by 298.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 10,098 shares of the company’s stock worth $93,000 after acquiring an additional 7,563 shares during the period. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

MLCO stock opened at $5.59 on Friday. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $10.15. The stock’s 50 day moving average price is $6.14 and its 200 day moving average price is $7.84. The firm has a market cap of $2.18 billion, a P/E ratio of 12.15 and a beta of 0.58.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Weiss Ratings restated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Thursday, January 22nd. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Monday, February 16th. Finally, Texas Capital upgraded shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.06.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.