Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $922,000 in Melco Resorts & Entertainment Ltd (MLCO) Stock

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,226 shares of the company’s stock, valued at approximately $922,000.

Other hedge funds have also modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of Melco Resorts & Entertainment by 17.2% during the third quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock valued at $383,000 after acquiring an additional 2,324 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $112,000. LS Investment Advisors LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $129,000. Nordea Investment Management AB acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $136,000. Finally, Cavalier Investments LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $205,000. Institutional investors own 41.31% of the company’s stock.

MLCO has been the subject of several recent analyst reports. Daiwa Capital Markets upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday, November 30th. Nomura lifted their target price on Melco Resorts & Entertainment from $29.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, November 9th. Instinet upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $29.00 in a research note on Tuesday, September 19th. Finally, Roth Capital assumed coverage on Melco Resorts & Entertainment in a research note on Wednesday, November 1st. They issued a “buy” rating and a $34.00 price target on the stock. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.78.

Shares of Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) traded down $0.15 during mid-day trading on Friday, reaching $29.04. The company had a trading volume of 2,269,153 shares, compared to its average volume of 2,452,107. Melco Resorts & Entertainment Ltd has a 1 year low of $15.68 and a 1 year high of $29.60. The firm has a market cap of $14,360.75, a PE ratio of 46.84, a PEG ratio of 1.12 and a beta of 1.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.08 and a quick ratio of 1.07.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, November 13th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03. Melco Resorts & Entertainment’s payout ratio is currently 56.45%.

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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.

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

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