Coronation Fund Managers Ltd. Has $66.89 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Coronation Fund Managers Ltd. lowered its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,552,228 shares of the company’s stock after selling 1,520,255 shares during the period. Melco Resorts & Entertainment makes up approximately 3.9% of Coronation Fund Managers Ltd.’s holdings, making the stock its 6th biggest position. Coronation Fund Managers Ltd. owned about 2.75% of Melco Resorts & Entertainment worth $66,887,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. ARGA Investment Management LP lifted its holdings in Melco Resorts & Entertainment by 1.6% in 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 during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock worth $5,107,000 after purchasing an additional 238,884 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Melco Resorts & Entertainment by 88.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock valued at $2,963,000 after purchasing an additional 178,993 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Melco Resorts & Entertainment by 124.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock valued at $1,869,000 after purchasing an additional 133,086 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Melco Resorts & Entertainment by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 169,277 shares of the company’s stock valued at $1,263,000 after buying an additional 8,507 shares during the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 3.4 %

Shares of NASDAQ:MLCO opened at $5.52 on Monday. The firm has a market capitalization of $2.32 billion, a PE ratio of -25.09, a PEG ratio of 0.55 and a beta of 1.04. Melco Resorts & Entertainment Limited has a 1-year low of $4.78 and a 1-year high of $9.39. The business’s 50 day moving average is $5.94 and its 200-day moving average is $6.14.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MLCO. Morgan Stanley reiterated an “equal weight” rating and set a $7.50 price target (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Susquehanna cut 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 research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

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.