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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.84.

Several research firms have recently commented on MLCO. Citigroup raised 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 report on Thursday, April 10th. Susquehanna lowered their price target on shares of 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. UBS Group cut shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price target for the company. in a research report on Wednesday, April 30th. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd.

Hedge Funds Weigh In On Melco Resorts & Entertainment

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake 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 period. Brown Advisory Inc. bought a new stake in shares of Melco Resorts & Entertainment in the first quarter worth about $53,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $58,000. Empirical Asset Management LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $73,000. Finally, Vident Advisory LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $142,000. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Stock Performance

MLCO stock traded up $0.08 during trading on Wednesday, hitting $5.43. 2,715,098 shares of the company's stock traded hands, compared to its average volume of 3,773,982. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -24.68, a P/E/G ratio of 0.63 and a beta of 0.71. The business has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $5.82. Melco Resorts & Entertainment has a 52 week low of $4.55 and a 52 week high of $8.90.

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.