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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.40.

Separately, Morgan Stanley restated an “equal weight” rating and issued a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several large investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in Melco Resorts & Entertainment in the second quarter valued at $42,000. Blue Trust Inc. grew its holdings in shares of Melco Resorts & Entertainment by 243.4% during the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after purchasing an additional 5,191 shares during the period. Headlands Technologies LLC purchased a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $56,000. Ballentine Partners LLC acquired a new position in Melco Resorts & Entertainment during the third quarter valued at approximately $81,000. Finally, Leo Wealth LLC purchased a new stake in Melco Resorts & Entertainment during the third quarter worth approximately $93,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Trading Down 1.2 %

Shares of MLCO stock traded down $0.08 on Tuesday, reaching $6.37. The company’s stock had a trading volume of 363,365 shares, compared to its average volume of 3,354,675. The stock’s fifty day simple moving average is $6.73 and its 200-day simple moving average is $6.58. Melco Resorts & Entertainment has a 1 year low of $4.78 and a 1 year high of $9.56. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -28.95, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.

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.