Brightlight Capital Management LP Has $11.33 Million Holdings in Melco Resorts & Entertainment Limited $MLCO

by · The Markets Daily

Brightlight Capital Management LP reduced its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) by 22.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,235,300 shares of the company’s stock after selling 363,600 shares during the period. Melco Resorts & Entertainment comprises approximately 6.9% of Brightlight Capital Management LP’s holdings, making the stock its 6th largest holding. Brightlight Capital Management LP owned about 0.29% of Melco Resorts & Entertainment worth $11,328,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in shares of 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 purchasing an additional 8,507 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $71,000. TD Private Client Wealth LLC boosted its holdings in shares of Melco Resorts & Entertainment by 298.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 10,098 shares of the company’s stock valued at $93,000 after buying an additional 7,563 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $75,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $80,000. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Up 1.6%

Melco Resorts & Entertainment stock opened at $5.59 on Friday. The firm has a 50-day moving average price of $6.14 and a two-hundred day moving average price of $7.83. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 12.15 and a beta of 0.58. Melco Resorts & Entertainment Limited has a 52-week low of $4.55 and a 52-week high of $10.15.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MLCO shares. UBS Group raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Monday, February 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Wall Street Zen downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. Finally, Texas Capital upgraded Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.06.

Get Our Latest Research Report on Melco Resorts & Entertainment

Melco Resorts & Entertainment Profile

(Free Report)

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.

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