Virtu Financial LLC Takes Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Virtu Financial LLC bought a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 28,853 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after purchasing an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth approximately $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment in the fourth quarter worth $73,000. Wealthspire Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at $145,000. Finally, Quantbot Technologies LP bought a new position in Melco Resorts & Entertainment during the 3rd quarter valued at $207,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Susquehanna cut their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup lowered Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $6.00 in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.24.

Melco Resorts & Entertainment Trading Down 2.4 %

NASDAQ MLCO opened at $5.27 on Friday. The company has a 50-day moving average price of $5.67 and a two-hundred day moving average price of $6.20. Melco Resorts & Entertainment Limited has a 52 week low of $4.78 and a 52 week high of $8.90. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -23.95, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02.

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.