Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.40.

A number of brokerages recently issued reports on MLCO. Morgan Stanley reissued an “equal weight” rating and issued a $7.50 price objective (down previously from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Susquehanna reduced their price target on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup downgraded Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Monday.

Melco Resorts & Entertainment Stock Performance

NASDAQ MLCO opened at $5.28 on Wednesday. Melco Resorts & Entertainment has a fifty-two week low of $4.78 and a fifty-two week high of $9.39. The stock’s fifty day moving average is $5.89 and its two-hundred day moving average is $6.14. The firm has a market capitalization of $2.22 billion, a P/E ratio of -24.00, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 140.7% during the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after purchasing an additional 4,403 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $58,000. Empirical Asset Management LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $73,000. Ballentine Partners LLC acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter worth approximately $81,000. Finally, Leo Wealth LLC acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter worth approximately $93,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.