Melco Resorts & Entertainment (NASDAQ:MLCO) Shares Gap Up to $22.55

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Melco Resorts & Entertainment Limited (NASDAQ:MLCO) gapped up prior to trading on Thursday . The stock had previously closed at $23.25, but opened at $22.55. Melco Resorts & Entertainment shares last traded at $22.15, with a volume of 119,869 shares trading hands.

MLCO has been the subject of several recent research reports. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 9th. ValuEngine upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, BidaskClub upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.49.

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88. The company’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $21.59. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.79 and a beta of 1.91.

Institutional investors and hedge funds have recently bought and sold shares of the company. Carroll Financial Associates Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $36,000. Usca Ria LLC acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth $39,000. Solstein Capital LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $50,000. Vestcor Investment Management Corp acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $90,000. Finally, Quadrant Capital Group LLC increased its position in shares of Melco Resorts & Entertainment by 11.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,864 shares of the company’s stock worth $136,000 after buying an additional 590 shares during the period. Institutional investors own 35.05% of the company’s stock.

About Melco Resorts & Entertainment (NASDAQ:MLCO)

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.

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