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

Brightlight Capital Management LP lessened its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,400 shares of the company’s stock after selling 164,900 shares during the quarter. Melco Resorts & Entertainment makes up approximately 5.8% of Brightlight Capital Management LP’s investment portfolio, making the stock its 6th largest position. Brightlight Capital Management LP’s holdings in Melco Resorts & Entertainment were worth $8,103,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MLCO. Kestra Advisory Services LLC bought a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $48,000. Hilton Head Capital Partners LLC bought a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $63,000. Quarry LP bought a new position in Melco Resorts & Entertainment in the 3rd quarter valued at approximately $68,000. Northwestern Mutual Wealth Management Co. bought a new position in Melco Resorts & Entertainment in the 2nd quarter valued at approximately $71,000. Finally, Amundi bought a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $79,000. Institutional investors own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. CLSA lowered 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 report on Friday, June 5th. Finally, CICC Research upgraded shares of Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.96.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $5.44 on Thursday. The company has a market capitalization of $2.11 billion, a PE ratio of 9.38, a P/E/G ratio of 3.00 and a beta of 0.58. The company has a 50 day simple moving average of $5.61 and a two-hundred day simple moving average of $6.27. Melco Resorts & Entertainment Limited has a fifty-two week low of $5.18 and a fifty-two week high of $10.15.

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.