Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Rating of “Moderate Buy” from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.40.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO opened at $6.15 on Tuesday. The company has a market cap of $2.58 billion, a P/E ratio of -27.95, a P/E/G ratio of 0.98 and a beta of 1.05. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $9.56. The company has a 50-day moving average of $6.60 and a 200-day moving average of $6.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its stake in shares of Melco Resorts & Entertainment by 16.6% in the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock valued at $147,000 after acquiring an additional 2,686 shares during the period. Creative Planning raised its position in Melco Resorts & Entertainment by 35.9% in the third quarter. Creative Planning now owns 15,962 shares of the company’s stock valued at $124,000 after purchasing an additional 4,220 shares during the period. Blue Trust Inc. lifted its stake in shares of Melco Resorts & Entertainment by 243.4% during the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after purchasing an additional 5,191 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Melco Resorts & Entertainment by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock valued at $437,000 after buying an additional 6,148 shares in the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

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.