State of New Jersey Common Pension Fund D Purchases 252,129 Shares of Melco Resorts & Entertainment Limited $MLCO

State of New Jersey Common Pension Fund D grew its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 2,072.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,293 shares of the company’s stock after purchasing an additional 252,129 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Melco Resorts & Entertainment worth $2,424,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Coronation Fund Managers Ltd. grew its stake in Melco Resorts & Entertainment by 4.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 8,103,914 shares of the company’s stock valued at $74,313,000 after purchasing an additional 341,528 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Melco Resorts & Entertainment by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock worth $31,700,000 after acquiring an additional 846,504 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock valued at $39,748,000 after acquiring an additional 5,211,263 shares during the period. WCM Investment Management LLC purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at about $35,665,000. Finally, Millennium Management LLC increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 3.1%

Melco Resorts & Entertainment stock opened at $6.06 on Friday. The stock has a 50 day moving average of $6.74 and a two-hundred day moving average of $8.15. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $10.15. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 13.17 and a beta of 0.63.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MLCO shares. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 27th. Weiss Ratings restated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. Texas Capital upgraded Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research note on Friday, January 16th. Finally, UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.67.

Melco Resorts & Entertainment Company 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.