Amundi Sells 7,722 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Amundi cut its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 22.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,762 shares of the company’s stock after selling 7,722 shares during the quarter. Amundi’s holdings in Melco Resorts & Entertainment were worth $150,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 140.7% in the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after acquiring an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at approximately $58,000. Empirical Asset Management LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at approximately $73,000. Wealthspire Advisors LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at approximately $145,000. Finally, Quantbot Technologies LP bought a new position in Melco Resorts & Entertainment in the third quarter valued at approximately $207,000. 39.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MLCO shares. Susquehanna decreased their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Finally, Citigroup cut shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $6.00 in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.24.

Melco Resorts & Entertainment Stock Down 0.7 %

MLCO stock opened at $5.54 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -25.18, a PEG ratio of 0.63 and a beta of 1.02. Melco Resorts & Entertainment Limited has a 12-month low of $4.78 and a 12-month high of $8.90. The company’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $6.19.

Melco Resorts & Entertainment 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.