Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $9.00 Average Target Price from Analysts

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.00.

A number of analysts have weighed in on MLCO shares. Susquehanna decreased their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research report on Monday, February 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.50 price target (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th.

Institutional Trading of Melco Resorts & Entertainment

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Melco Resorts & Entertainment by 140.7% in the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after acquiring an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth $58,000. Empirical Asset Management LLC purchased a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $73,000. Ballentine Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $81,000. Finally, Leo Wealth LLC purchased a new stake in Melco Resorts & Entertainment during the third quarter worth about $93,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ:MLCO opened at $5.52 on Wednesday. Melco Resorts & Entertainment has a one year low of $4.78 and a one year high of $9.39. The company has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $6.14. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -25.09, a PEG ratio of 0.55 and a beta of 1.04.

Melco Resorts & Entertainment Company Profile

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.