Brightlight Capital Management LP Has $8.10 Million Position in Melco Resorts & Entertainment Limited $MLCO

Brightlight Capital Management LP decreased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,070,400 shares of the company’s stock after selling 164,900 shares during the quarter. Melco Resorts & Entertainment accounts for approximately 5.8% of Brightlight Capital Management LP’s investment portfolio, making the stock its 6th largest position. Brightlight Capital Management LP owned 0.26% of Melco Resorts & Entertainment worth $8,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Osaic Holdings Inc. lifted 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 purchasing an additional 1,295 shares during the period. Orion Porfolio Solutions LLC lifted its position in Melco Resorts & Entertainment by 15.5% during the second quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock worth $98,000 after purchasing an additional 1,819 shares during the period. Fox Run Management L.L.C. lifted its position in Melco Resorts & Entertainment by 5.1% during the fourth quarter. Fox Run Management L.L.C. now owns 46,211 shares of the company’s stock worth $350,000 after purchasing an additional 2,256 shares during the period. Ameriprise Financial Inc. lifted its position in Melco Resorts & Entertainment by 0.9% during the third quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock worth $2,380,000 after purchasing an additional 2,442 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Melco Resorts & Entertainment by 3.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 69,325 shares of the company’s stock worth $525,000 after purchasing an additional 2,444 shares during the period. Institutional investors own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

MLCO has been the subject of several recent analyst reports. CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. CLSA cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 price objective for the company. in a research report on Friday, June 5th. Finally, Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Melco Resorts & Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $8.96.

Melco Resorts & Entertainment Trading Up 0.4%

MLCO stock opened at $5.44 on Thursday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 3.00 and a beta of 0.58. Melco Resorts & Entertainment Limited has a 12 month low of $5.18 and a 12 month high of $10.15. The firm has a 50-day moving average price of $5.61 and a 200-day moving average price of $6.27.

Melco Resorts & Entertainment Profile

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.