5 Stocks to Buy Under $50 According to Brian Higgins’ King Street Capital

4. Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Higgins’ Stake Value: $55.3 million

Percentage of Brian Higgins’ 13F Portfolio: 4.55%

Number of Hedge Fund Holders: 29

Stock Price as of October 6: $10.48

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is a Hong Kong-based company that owns and operates casino gaming and resort entertainment facilities. It is placed fourth on our list of the 10 stocks to buy under $50 according to Brian Higgins’ King Street Capital.

In the second quarter of 2021, Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reported revenues amounting to over $566.44 million, an increase of 222.12% on a year-over-year basis.

Brian Higgins currently holds over 3.34 million shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO), amounting to more than $55.3 million in worth, representing 4.55% of his fund’s total investment value. As of the end of the second quarter of 2021, 29 hedge funds out of the 873 tracked by Insider Monkey held stakes in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) worth roughly $755 million.

On July 28, HSBC analyst Charlene Liu upgraded Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to Buy from Hold with an unchanged price target of $16.90.

Out of the hedge funds being tracked by Insider Monkey, New York-based Eminence Capital is a leading shareholder in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) with 9.59 million shares worth $158.9 million.