Melco Resorts & Entertainment (NASDAQ:MLCO) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Melco Resorts & Entertainment (NASDAQ:MLCO) in a research report report published on Tuesday, MarketBeat Ratings reports. Morgan Stanley currently has a $7.50 target price on the stock, down from their previous target price of $9.60.

Melco Resorts & Entertainment Stock Down 1.7 %

NASDAQ MLCO opened at $6.34 on Tuesday. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.56. The firm has a 50 day moving average of $6.70 and a two-hundred day moving average of $6.57. The stock has a market capitalization of $2.66 billion, a PE ratio of -28.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.

Institutional Trading of Melco Resorts & Entertainment

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

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.