384,058 Shares in Melco Resorts & Entertainment Ltd (MLCO) Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. purchased a new stake in shares of Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 384,058 shares of the company’s stock, valued at approximately $9,252,000. Asset Management One Co. Ltd. owned about 0.08% of Melco Resorts & Entertainment as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Group Inc. increased its position in shares of Melco Resorts & Entertainment by 17.2% during the 3rd quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock valued at $383,000 after purchasing an additional 2,324 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $112,000. LS Investment Advisors LLC purchased a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $129,000. Nordea Investment Management AB purchased a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $136,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $203,000. 41.45% of the stock is owned by hedge funds and other institutional investors.

MLCO has been the subject of several research reports. TheStreet raised shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research report on Tuesday, November 21st. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, September 27th. Nomura raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Instinet raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Finally, Roth Capital initiated coverage on shares of Melco Resorts & Entertainment in a research report on Wednesday, November 1st. They set a “buy” rating and a $34.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.34.

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) opened at $27.05 on Monday. The stock has a market capitalization of $13,330.00, a P/E ratio of 32.20, a P/E/G ratio of 1.04 and a beta of 1.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.07 and a current ratio of 1.08. Melco Resorts & Entertainment Ltd has a 52 week low of $14.89 and a 52 week high of $27.47.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 14th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, November 13th. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.33%. Melco Resorts & Entertainment’s payout ratio is 55.56%.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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

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