Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $9.00

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of equities research analysts recently commented on the stock. Susquehanna cut their price objective 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. Morgan Stanley reissued an “equal weight” rating and issued a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Melco Resorts & Entertainment by 16.6% during the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock worth $147,000 after buying an additional 2,686 shares during the last quarter. Creative Planning raised its holdings in Melco Resorts & Entertainment by 35.9% during the third quarter. Creative Planning now owns 15,962 shares of the company’s stock worth $124,000 after acquiring an additional 4,220 shares in the last quarter. GAMMA Investing LLC boosted its position in Melco Resorts & Entertainment by 140.7% during the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after purchasing an additional 4,403 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 purchasing an additional 6,148 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Melco Resorts & Entertainment by 5.3% during the 2nd quarter. Cetera Investment Advisers now owns 169,277 shares of the company’s stock worth $1,263,000 after purchasing an additional 8,507 shares during the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO stock opened at $5.52 on Wednesday. The company has a market capitalization of $2.32 billion, a P/E ratio of -25.09, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.39. The company’s 50 day moving average price is $5.94 and its two-hundred day moving average price is $6.14.

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.