Polymer Capital Management HK LTD Raises Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Polymer Capital Management HK LTD raised its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,091 shares of the company’s stock after acquiring an additional 101,955 shares during the quarter. Polymer Capital Management HK LTD owned approximately 0.12% of Melco Resorts & Entertainment worth $2,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARGA Investment Management LP raised its position in shares of Melco Resorts & Entertainment by 1.6% during the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after buying an additional 456,117 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth $28,989,000. JPMorgan Chase & Co. raised its position in Melco Resorts & Entertainment by 1,240.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company’s stock valued at $7,771,000 after purchasing an additional 1,241,986 shares in the last quarter. Trexquant Investment LP lifted its holdings in Melco Resorts & Entertainment by 105.2% during the 4th quarter. Trexquant Investment LP now owns 1,134,648 shares of the company’s stock worth $6,570,000 after buying an additional 581,778 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Melco Resorts & Entertainment by 20.4% in the fourth quarter. Sei Investments Co. now owns 725,100 shares of the company’s stock valued at $4,198,000 after purchasing an additional 123,042 shares in the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Down 9.8 %

NASDAQ:MLCO opened at $4.80 on Friday. Melco Resorts & Entertainment Limited has a twelve month low of $4.74 and a twelve month high of $8.90. The firm has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $6.19. The company has a market capitalization of $2.01 billion, a P/E ratio of -21.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87.

Wall Street Analysts Forecast Growth

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

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.