Zurcher Kantonalbank Zurich Cantonalbank Has $437,000 Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,152 shares of the company’s stock after purchasing an additional 6,148 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Melco Resorts & Entertainment were worth $437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Melco Resorts & Entertainment by 10.1% in the first quarter. California State Teachers Retirement System now owns 239,056 shares of the company’s stock valued at $1,724,000 after acquiring an additional 21,945 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment during the 1st quarter worth approximately $196,000. SG Americas Securities LLC grew its position in shares of Melco Resorts & Entertainment by 179.8% during the 2nd quarter. SG Americas Securities LLC now owns 154,480 shares of the company’s stock worth $1,152,000 after purchasing an additional 99,276 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Melco Resorts & Entertainment by 16.2% during the second quarter. Coronation Fund Managers Ltd. now owns 15,500,865 shares of the company’s stock worth $115,636,000 after purchasing an additional 2,166,524 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Melco Resorts & Entertainment by 243.4% in the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock valued at $53,000 after buying an additional 5,191 shares in the last quarter. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Trading Up 1.1 %

NASDAQ MLCO opened at $6.56 on Friday. The firm’s 50 day simple moving average is $6.88 and its 200 day simple moving average is $6.64. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -29.82, a P/E/G ratio of 0.95 and a beta of 1.05. Melco Resorts & Entertainment Limited has a 1 year low of $4.78 and a 1 year high of $9.56.

Wall Street Analyst Weigh In

Separately, Bank of America lowered their price objective on Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.82.

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.