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

Key Points

• Consensus: Nine analysts give Melco Resorts an average rating of "Moderate Buy", with a one-year average price target of $9.06 (ratings split: 1 sell, 3 hold, 4 buy, 1 strong buy).
• Recent analyst moves are mixed — JPMorgan cut its target to $7.70, UBS upgraded to a buy with a $9.50 target, Texas Capital flagged a strong-buy, while Weiss reaffirmed a sell and Wall Street Zen downgraded to hold.
• Market snapshot: MLCO opened at $5.68, has a market cap of $2.31B and a P/E of 12.35, trades in a 52-week range of $4.68–$10.15, and is ~39.6% held by institutional investors.

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.06.

MLCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. UBS Group raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 target price for the company in a report on Monday, February 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. Texas Capital raised shares of Melco Resorts & Entertainment to a "strong-buy" rating in a report on Friday, January 23rd. Finally, Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a report on Saturday, March 21st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MLCO. Kestra Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $48,000. Hilton Head Capital Partners LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $63,000. Quarry LP bought a new position in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $68,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $71,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Melco Resorts & Entertainment by 6,805.6% during the 3rd quarter. Global Retirement Partners LLC now owns 8,632 shares of the company's stock valued at $79,000 after purchasing an additional 8,507 shares during the last quarter. Institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $5.68 on Wednesday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 12.35 and a beta of 0.61. Melco Resorts & Entertainment has a one year low of $4.68 and a one year high of $10.15. The business has a fifty day moving average price of $5.75 and a 200-day moving average price of $7.18.

About Melco Resorts & Entertainment

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.

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