Capital Wealth Planning LLC Acquires Shares of 451,089 Melco Resorts & Entertainment Limited $MLCO

Capital Wealth Planning LLC bought a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 451,089 shares of the company’s stock, valued at approximately $4,136,000. Capital Wealth Planning LLC owned approximately 0.11% of Melco Resorts & Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its stake in Melco Resorts & Entertainment by 11.1% during the 1st quarter. Royal Bank of Canada now owns 180,161 shares of the company’s stock worth $949,000 after buying an additional 18,010 shares during the last quarter. Millennium Management LLC lifted its stake in Melco Resorts & Entertainment by 69.3% in the first quarter. Millennium Management LLC now owns 1,915,978 shares of the company’s stock valued at $10,097,000 after buying an additional 784,403 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Melco Resorts & Entertainment by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock valued at $31,700,000 after acquiring an additional 846,504 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $355,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth approximately $75,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MLCO. Texas Capital upgraded shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.70 price objective (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. Finally, UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and an average price target of $9.06.

Melco Resorts & Entertainment Price Performance

MLCO opened at $5.59 on Friday. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $10.15. The stock has a market capitalization of $2.18 billion, a P/E ratio of 12.15 and a beta of 0.58. The business has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $7.84.

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.