NN Investment Partners Holdings N.V. Has $692,000 Position in Melco Resorts & Entertainment Limited (MLCO)

NN Investment Partners Holdings N.V. lessened its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 15.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,700 shares of the company’s stock after selling 6,200 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Melco Resorts & Entertainment were worth $692,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in Melco Resorts & Entertainment by 9.1% in the second quarter. BlackRock Inc. now owns 24,200,196 shares of the company’s stock valued at $677,605,000 after acquiring an additional 2,013,914 shares during the last quarter. Renaissance Technologies LLC grew its position in Melco Resorts & Entertainment by 86.4% in the second quarter. Renaissance Technologies LLC now owns 2,312,600 shares of the company’s stock valued at $64,753,000 after acquiring an additional 1,071,800 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its position in Melco Resorts & Entertainment by 11.4% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,892,435 shares of the company’s stock valued at $209,225,000 after acquiring an additional 1,011,558 shares during the last quarter. Acadian Asset Management LLC bought a new position in Melco Resorts & Entertainment in the second quarter valued at about $24,627,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Melco Resorts & Entertainment by 566.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 650,233 shares of the company’s stock valued at $18,207,000 after acquiring an additional 552,600 shares during the last quarter. 39.38% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. ValuEngine upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. BidaskClub cut Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. TheStreet cut Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Finally, Bank of America restated a “buy” rating and set a $35.10 price target (up from $34.40) on shares of Melco Resorts & Entertainment in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.73.

NASDAQ:MLCO opened at $18.17 on Thursday. The stock has a market cap of $8.82 billion, a PE ratio of 16.99, a PEG ratio of 1.51 and a beta of 1.64. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment Limited has a 1-year low of $15.62 and a 1-year high of $32.95.

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Melco Resorts & Entertainment Company Profile

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.

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Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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