Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Price Target at $9.00

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.40.

Several research firms recently commented on MLCO. Morgan Stanley restated an “equal weight” rating and set a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th. Citigroup lowered Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the company from $10.00 to $6.00 in a research note on Monday. Finally, Susquehanna lowered their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd.

Institutional Trading of Melco Resorts & Entertainment

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Melco Resorts & Entertainment by 140.7% in the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after buying an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $58,000. Ballentine Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $81,000. Leo Wealth LLC purchased a new position in Melco Resorts & Entertainment in the 3rd quarter worth approximately $93,000. Finally, Empirical Asset Management LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $73,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Trading Down 0.6 %

Melco Resorts & Entertainment stock opened at $5.28 on Wednesday. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $9.39. The stock’s 50 day simple moving average is $5.89 and its two-hundred day simple moving average is $6.14. The firm has a market cap of $2.22 billion, a PE ratio of -24.00, a P/E/G ratio of 0.55 and a beta of 1.04.

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.