Melco Resorts & Entertainment Ltd (MPEL) Stock Rating Reaffirmed by Wells Fargo & Company

Wells Fargo & Company restated their neutral rating on shares of Melco Resorts & Entertainment Ltd (NASDAQ:MPEL) in a report issued on Tuesday, July 4th, StockTargetPrices.com reports.

Shares of Melco Resorts & Entertainment (MPEL) traded up 0.4235% during midday trading on Tuesday, hitting $18.9700. Melco Resorts & Entertainment has a 12-month low of $11.91 and a 12-month high of $20.00.

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A number of hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new stake in Melco Resorts & Entertainment during the fourth quarter valued at about $149,726,000. Russell Investments Group Ltd. bought a new stake in Melco Resorts & Entertainment during the fourth quarter valued at about $1,938,000. State Street Corp boosted its stake in Melco Resorts & Entertainment by 2.6% in the fourth quarter. State Street Corp now owns 2,886,382 shares of the company’s stock valued at $45,896,000 after buying an additional 74,376 shares in the last quarter. Comerica Bank boosted its stake in shares of Melco Resorts & Entertainment by 10.9% in the fourth quarter. Comerica Bank now owns 35,476 shares of the company’s stock worth $613,000 after buying an additional 3,484 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Melco Resorts & Entertainment by 24.5% in the fourth quarter. Teachers Advisors LLC now owns 6,347,786 shares of the company’s stock worth $100,930,000 after buying an additional 1,249,335 shares during the period.

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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