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

Key Points

• Melco Resorts & Entertainment received a consensus analyst rating of "Moderate Buy" from 10 covering research firms, with an average 1-year price target of about $7.77.
• Recent analyst actions were mixed: CICC Research and CLSA upgraded the stock, while Morgan Stanley downgraded it and JPMorgan trimmed its target price to $5.70.
• The stock rose 1.8% to $5.57, and institutional ownership stands at 39.62% of shares outstanding.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.7667.

Several equities research analysts have recently issued reports on MLCO shares. CICC Research raised Melco Resorts & Entertainment to an "outperform" rating in a report on Sunday, April 19th. Citigroup cut their price target on Melco Resorts & Entertainment from $10.50 to $9.40 and set a "buy" rating for the company in a report on Friday, July 10th. Morgan Stanley downgraded Melco Resorts & Entertainment from an "overweight" rating to a "negative" rating in a research note on Monday, June 22nd. CLSA raised Melco Resorts & Entertainment from a "hold" rating to an "outperform" rating and decreased their price objective for the stock from $6.10 to $6.00 in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. lowered their target price on Melco Resorts & Entertainment from $6.00 to $5.70 and set a "neutral" rating for the company in a research report on Thursday, July 16th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Melco Resorts & Entertainment by 1,370.8% in the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company's stock worth $29,000 after acquiring an additional 4,702 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Melco Resorts & Entertainment by 71.5% during the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company's stock valued at $40,000 after acquiring an additional 3,155 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $48,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $63,000. Finally, U S Global Investors Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the first quarter valued at approximately $68,000. Institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Trading Up 1.8%

NASDAQ MLCO opened at $5.57 on Friday. Melco Resorts & Entertainment has a 12 month low of $5.07 and a 12 month high of $10.15. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 3.42 and a beta of 0.59. The company's 50 day moving average is $5.47 and its two-hundred day moving average is $5.75.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited NASDAQ: MLCO is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company's portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco's properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.