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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.7667.

A number of brokerages recently weighed in on MLCO. Morgan Stanley cut Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. CICC Research upgraded shares of Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. JPMorgan Chase & Co. decreased their target price on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Finally, Citigroup reduced their price target on Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a research report on Friday, July 10th.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. grew its stake in Melco Resorts & Entertainment by 35.2% during the 1st quarter. Coronation Fund Managers Ltd. now owns 11,269,346 shares of the company’s stock valued at $64,010,000 after purchasing an additional 2,934,127 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Melco Resorts & Entertainment by 190.9% in the first quarter. SG Americas Securities LLC now owns 461,100 shares of the company’s stock worth $2,619,000 after purchasing an additional 302,609 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Melco Resorts & Entertainment by 29.8% during the first quarter. Bleakley Financial Group LLC now owns 461,487 shares of the company’s stock worth $2,621,000 after purchasing an additional 105,887 shares during the period. Clough Capital Partners L P lifted its holdings in shares of Melco Resorts & Entertainment by 17.6% during the fourth quarter. Clough Capital Partners L P now owns 1,120,920 shares of the company’s stock worth $8,485,000 after purchasing an additional 167,890 shares during the period. Finally, Capula Management Ltd purchased a new stake in Melco Resorts & Entertainment in the first quarter valued at approximately $1,326,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 1.8%

Melco Resorts & Entertainment stock opened at $5.57 on Friday. Melco Resorts & Entertainment has a twelve month low of $5.07 and a twelve month high of $10.15. The business has a fifty day moving average of $5.47 and a two-hundred day moving average of $5.75. The firm has a market cap of $2.16 billion, a P/E ratio of 9.60, a P/E/G ratio of 3.42 and a beta of 0.59.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.