Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Recommendation of “Moderate Buy” by Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.06.

MLCO has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. Wall Street Zen downgraded Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Monday, February 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Finally, Texas Capital upgraded shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd.

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock valued at $39,748,000 after buying an additional 5,211,263 shares during the period. FIL Ltd purchased a new position in Melco Resorts & Entertainment in the fourth quarter worth approximately $35,198,000. WCM Investment Management LLC acquired a new stake in Melco Resorts & Entertainment during the third quarter worth $35,665,000. Balyasny Asset Management L.P. increased its stake in Melco Resorts & Entertainment by 257.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company’s stock worth $29,253,000 after acquiring an additional 2,784,251 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Melco Resorts & Entertainment by 71,281.5% in the third quarter. National Bank of Canada FI now owns 2,206,402 shares of the company’s stock valued at $20,233,000 after purchasing an additional 2,203,311 shares during the period. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 0.7%

MLCO opened at $5.46 on Friday. The company has a market cap of $2.13 billion, a PE ratio of 11.87 and a beta of 0.58. Melco Resorts & Entertainment has a twelve month low of $4.55 and a twelve month high of $10.15. The company has a 50-day moving average price of $5.98 and a 200 day moving average price of $7.69.

Melco Resorts & Entertainment Company Profile

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.