Melco Resorts & Entertainment (NASDAQ:MLCO) Hits New 52-Week Low – Time to Sell?

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reached a new 52-week low during trading on Friday . The company traded as low as $5.19 and last traded at $5.2150, with a volume of 1115710 shares traded. The stock had previously closed at $5.41.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, May 11th. CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. Finally, UBS Group raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.68.

Melco Resorts & Entertainment Price Performance

The firm has a market cap of $2.09 billion, a PE ratio of 9.28, a PEG ratio of 3.81 and a beta of 0.60. The business’s 50 day moving average price is $5.60 and its 200 day moving average price is $6.69.

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently bought and sold shares of MLCO. Parallel Advisors LLC grew its stake in Melco Resorts & Entertainment by 1,370.8% during the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock valued at $29,000 after acquiring an additional 4,702 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $48,000. Hilton Head Capital Partners LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $63,000. U S Global Investors Inc. purchased a new stake in Melco Resorts & Entertainment during the 1st quarter valued at about $68,000. Finally, Quarry LP purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at about $68,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.