Susquehanna Lowers Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target to $9.00

Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price cut by Susquehanna from $10.00 to $9.00 in a research report released on Monday morning,Benzinga reports. They currently have a positive rating on the stock.

Separately, Morgan Stanley reiterated an “equal weight” rating and set a $7.50 target price (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Melco Resorts & Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $5.62 on Monday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -25.54, a P/E/G ratio of 0.61 and a beta of 1.05. The company has a 50 day moving average of $6.00 and a 200-day moving average of $6.16. Melco Resorts & Entertainment has a one year low of $4.78 and a one year high of $9.39.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. ARGA Investment Management LP grew its stake in Melco Resorts & Entertainment by 1.6% in the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after acquiring an additional 456,117 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in shares of Melco Resorts & Entertainment by 15.0% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company’s stock valued at $101,835,000 after purchasing an additional 1,705,872 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock valued at $5,107,000 after purchasing an additional 238,884 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Melco Resorts & Entertainment by 88.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock valued at $2,963,000 after purchasing an additional 178,993 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Melco Resorts & Entertainment by 124.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after purchasing an additional 133,086 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.