Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $6.84.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Citigroup upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research note on Thursday, April 10th. UBS Group downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price for the company. in a research note on Wednesday. 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 report on Monday, February 3rd.

Institutional Trading of Melco Resorts & Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Melco Resorts & Entertainment by 47.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company's stock valued at $2,045,000 after purchasing an additional 113,328 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Melco Resorts & Entertainment by 92.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock valued at $13,886,000 after buying an additional 1,150,500 shares during the period. ARGA Investment Management LP boosted its stake in shares of Melco Resorts & Entertainment by 1.6% in the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after buying an additional 456,117 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Melco Resorts & Entertainment during the fourth quarter worth $407,000. Finally, Sei Investments Co. raised its position in Melco Resorts & Entertainment by 20.4% in the fourth quarter. Sei Investments Co. now owns 725,100 shares of the company's stock worth $4,198,000 after acquiring an additional 123,042 shares in the last quarter. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Stock Up 6.4 %

MLCO traded up $0.32 during trading on Wednesday, hitting $5.35. 3,777,316 shares of the stock were exchanged, compared to its average volume of 3,778,234. Melco Resorts & Entertainment has a 1-year low of $4.55 and a 1-year high of $8.90. The stock has a fifty day moving average price of $5.26 and a two-hundred day moving average price of $5.83. The firm has a market capitalization of $2.28 billion, a P/E ratio of -24.32, a PEG ratio of 0.63 and a beta of 0.87.

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.