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

Key Points

• Analysts give Melco an average rating of Moderate Buy from nine brokers with a 1‑year average target of $9.06; the mix is 1 sell, 3 hold, 4 buy and 1 strong buy.
• Significant institutional buying has emerged—Arrowstreet, FIL, Balyasny and National Bank of Canada among others increased positions—and hedge funds/institutions now own about 39.62% of the stock.
• Shares trade around $5.46 with a market cap of $2.13B and a PE of 11.87, versus a 12‑month high of $10.15, indicating room to the consensus analyst targets.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.06.

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

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company's stock valued at $39,748,000 after buying an additional 5,211,263 shares during the period. FIL Ltd purchased a new position in Melco Resorts & Entertainment in the fourth quarter worth approximately $35,198,000. WCM Investment Management LLC acquired a new stake in Melco Resorts & Entertainment during the third quarter worth $35,665,000. Balyasny Asset Management L.P. increased its stake in Melco Resorts & Entertainment by 257.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company's stock worth $29,253,000 after acquiring an additional 2,784,251 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Melco Resorts & Entertainment by 71,281.5% in the third quarter. National Bank of Canada FI now owns 2,206,402 shares of the company's stock valued at $20,233,000 after purchasing an additional 2,203,311 shares during the period. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Stock Down 0.7%

MLCO opened at $5.46 on Friday. The company has a market cap of $2.13 billion, a PE ratio of 11.87 and a beta of 0.58. Melco Resorts & Entertainment has a twelve month low of $4.55 and a twelve month high of $10.15. The company has a 50-day moving average price of $5.98 and a 200 day moving average price of $7.69.

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.

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