Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $9.40 Consensus Price Target from Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $9.40.

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

Institutional Trading of Melco Resorts & Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of MLCO. Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment during the 2nd quarter valued at about $56,000. Hsbc Holdings PLC increased its stake in Melco Resorts & Entertainment by 47.5% during the 2nd quarter. Hsbc Holdings PLC now owns 52,486 shares of the company’s stock valued at $395,000 after purchasing an additional 16,901 shares in the last quarter. Sei Investments Co. increased its stake in Melco Resorts & Entertainment by 173.2% during the 2nd quarter. Sei Investments Co. now owns 602,058 shares of the company’s stock valued at $4,491,000 after purchasing an additional 381,653 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Melco Resorts & Entertainment by 22.8% in the second quarter. Marshall Wace LLP now owns 1,169,950 shares of the company’s stock worth $8,728,000 after acquiring an additional 217,520 shares during the period. Finally, Solel Partners LP grew its stake in shares of Melco Resorts & Entertainment by 34.2% in the second quarter. Solel Partners LP now owns 1,328,000 shares of the company’s stock worth $9,907,000 after acquiring an additional 338,700 shares during the period. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ MLCO opened at $5.56 on Friday. Melco Resorts & Entertainment has a 1 year low of $4.78 and a 1 year high of $9.39. The stock has a market cap of $2.33 billion, a P/E ratio of -25.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The firm has a 50-day moving average of $6.20 and a 200 day moving average of $6.28.

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.