Melco Resorts & Entertainment (NASDAQ:MLCO) Reaches New 1-Year Low – Should You Sell?

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reached a new 52-week low on Monday. The stock traded as low as $3.70 and last traded at $3.7450, with a volume of 3,269,090 shares traded. The stock had previously closed at $3.73.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Tuesday, August 18th. CICC Research cut Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a research note on Sunday, October 18th. CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and dropped their target price for the stock from $6.10 to $6.00 in a research report on Friday, July 10th. Texas Capital lowered Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. Finally, Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.83.

Melco Resorts & Entertainment Stock Performance

The stock’s 50-day moving average is $4.73 and its 200 day moving average is $5.25. The firm has a market cap of $1.50 billion, a P/E ratio of 6.56, a PEG ratio of 2.87 and a beta of 0.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Melco Resorts & Entertainment had a negative return on equity of 23.81% and a net margin of 4.50%. Melco Resorts & Entertainment’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. On average, research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.41 EPS for the current year.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leo Wealth LLC acquired a new position in Melco Resorts & Entertainment in the 3rd quarter valued at about $54,000. Signaturefd LLC grew its stake in Melco Resorts & Entertainment by 30.4% in the third quarter. Signaturefd LLC now owns 15,108 shares of the company’s stock valued at $68,000 after acquiring an additional 3,526 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Melco Resorts & Entertainment by 24.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,500 shares of the company’s stock valued at $82,000 after acquiring an additional 3,000 shares in the last quarter. Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment during the second quarter worth $73,000. Finally, Baron Wealth Management LLC purchased a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $95,000. Institutional investors own 39.62% of the company’s stock.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited is a developer, owner and operator of integrated resort facilities focused on gaming, hospitality, entertainment, dining, retail and convention services. The company’s properties combine casinos with luxury hotels, restaurants, shopping areas, theaters and other leisure attractions.

Melco operates several major resorts in Macau, including City of Dreams, Altira Macau and Studio City. Its Macau operations also include the Mocha Clubs electronic gaming-machine business.