Public Employees Retirement System of Ohio Lowers Holdings in Melco Resorts & Entertainment Limited $MLCO

Public Employees Retirement System of Ohio lowered its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 64.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 274,618 shares of the company’s stock after selling 501,257 shares during the period. Public Employees Retirement System of Ohio’s holdings in Melco Resorts & Entertainment were worth $1,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Coronation Fund Managers Ltd. grew its holdings in Melco Resorts & Entertainment by 35.2% during the 1st quarter. Coronation Fund Managers Ltd. now owns 11,269,346 shares of the company’s stock worth $64,010,000 after acquiring an additional 2,934,127 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Melco Resorts & Entertainment by 67.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,198,664 shares of the company’s stock worth $84,352,000 after purchasing an additional 3,700,980 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Melco Resorts & Entertainment by 16.4% during the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock valued at $31,700,000 after purchasing an additional 846,504 shares in the last quarter. FIL Ltd bought a new position in Melco Resorts & Entertainment in the fourth quarter worth approximately $35,198,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Melco Resorts & Entertainment by 257.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company’s stock worth $29,253,000 after buying an additional 2,784,251 shares during the period. 39.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLCO shares. CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and cut their price target for the company from $6.10 to $6.00 in a report on Friday, July 10th. CICC Research upgraded shares of Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. Citigroup decreased their price target on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. reduced their price objective on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Morgan Stanley lowered shares of Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.32.

Melco Resorts & Entertainment Price Performance

Shares of MLCO opened at $5.73 on Monday. The company’s fifty day moving average price is $5.49 and its 200-day moving average price is $5.69. Melco Resorts & Entertainment Limited has a 1-year low of $5.07 and a 1-year high of $10.15. The firm has a market capitalization of $2.22 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59.

Melco Resorts & Entertainment 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.