State of New Jersey Common Pension Fund D Sells 101,014 Shares of Melco Resorts & Entertainment Limited $MLCO

State of New Jersey Common Pension Fund D cut its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 38.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,279 shares of the company’s stock after selling 101,014 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Melco Resorts & Entertainment were worth $1,236,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth approximately $68,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at approximately $71,000. Global Retirement Partners LLC lifted its holdings in Melco Resorts & Entertainment by 6,805.6% during the third quarter. Global Retirement Partners LLC now owns 8,632 shares of the company’s stock worth $79,000 after acquiring an additional 8,507 shares during the period. TD Private Client Wealth LLC lifted its holdings in Melco Resorts & Entertainment by 298.3% during the third quarter. TD Private Client Wealth LLC now owns 10,098 shares of the company’s stock worth $93,000 after acquiring an additional 7,563 shares during the period. Finally, Orion Porfolio Solutions LLC boosted its position in Melco Resorts & Entertainment by 15.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock worth $98,000 after purchasing an additional 1,819 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Stock Down 1.1%

NASDAQ MLCO opened at $5.31 on Tuesday. The firm has a market cap of $2.16 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 3.76 and a beta of 0.60. The company’s 50 day moving average is $5.67 and its 200-day moving average is $6.85. Melco Resorts & Entertainment Limited has a 12-month low of $5.22 and a 12-month high of $10.15.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Monday, February 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. CICC Research upgraded shares of Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.70 price objective (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Finally, Wall Street Zen raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.06.

About Melco Resorts & Entertainment

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.