Melco Resorts & Entertainment (NASDAQ:MLCO) Shares Gap Down - Time to Sell?

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $5.10, but opened at $4.97. Melco Resorts & Entertainment shares last traded at $5.14, with a volume of 546,831 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Susquehanna dropped their price target on 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. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price target on the stock. in a research report on Wednesday. Finally, Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.84.

Melco Resorts & Entertainment Price Performance

The stock's 50 day moving average is $5.26 and its 200-day moving average is $5.84. The company has a market capitalization of $2.28 billion, a P/E ratio of -24.32, a P/E/G ratio of 0.63 and a beta of 0.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Melco Resorts & Entertainment by 140.7% during 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 Melco Resorts & Entertainment during the first quarter worth about $53,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Melco Resorts & Entertainment in the fourth quarter worth about $58,000. Empirical Asset Management LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $73,000. Finally, Vident Advisory LLC purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $142,000. Hedge funds and other institutional investors own 39.62% of the company's stock.

About Melco Resorts & Entertainment

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.