Healthcare of Ontario Pension Plan Trust Fund Sells 85,600 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,701,300 shares of the company’s stock after selling 85,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Melco Resorts & Entertainment were worth $13,253,000 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. Ridgewood Investments LLC bought a new position in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $42,000. Blue Trust Inc. raised its holdings in Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after acquiring an additional 5,191 shares during the period. Headlands Technologies LLC acquired a new position in Melco Resorts & Entertainment during the 2nd quarter worth $56,000. Russell Investments Group Ltd. bought a new stake in Melco Resorts & Entertainment during the first quarter valued at about $56,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $81,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Performance

NASDAQ MLCO opened at $6.20 on Friday. The company’s fifty day moving average is $6.90 and its two-hundred day moving average is $6.74. Melco Resorts & Entertainment Limited has a 52-week low of $4.78 and a 52-week high of $9.56.

Wall Street Analyst Weigh In

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