Headlands Technologies LLC Has $390,000 Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Headlands Technologies LLC reduced its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 61.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,410 shares of the company’s stock after selling 109,682 shares during the period. Headlands Technologies LLC’s holdings in Melco Resorts & Entertainment were worth $390,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Melco Resorts & Entertainment by 124.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock valued at $1,869,000 after buying an additional 133,086 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $207,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Melco Resorts & Entertainment by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock valued at $437,000 after purchasing an additional 6,148 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Melco Resorts & Entertainment by 88.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock worth $2,963,000 after purchasing an additional 178,993 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter worth approximately $858,000. 39.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $5.32 on Friday. The stock has a market capitalization of $2.23 billion, a P/E ratio of -24.18, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87. Melco Resorts & Entertainment Limited has a 52 week low of $4.78 and a 52 week high of $8.90. The stock has a fifty day moving average of $5.65 and a 200-day moving average of $6.19.

About Melco Resorts & Entertainment

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.