Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was downgraded by equities research analysts at UBS Group from a "buy" rating to a "sell" rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $4.60 price objective on the stock. UBS Group's price target would indicate a potential downside of 11.20% from the company's previous close.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target on the stock in a research report on Thursday, April 10th. Finally, Susquehanna cut their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and an average price target of $6.84.
Read Our Latest Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
NASDAQ MLCO opened at $5.18 on Wednesday. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $8.90. The firm has a market capitalization of $2.20 billion, a P/E ratio of -23.54, a price-to-earnings-growth ratio of 0.63 and a beta of 0.87. The stock's fifty day moving average is $5.30 and its two-hundred day moving average is $5.87.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MLCO. Charles Schwab Investment Management Inc. increased its holdings in Melco Resorts & Entertainment by 47.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company's stock valued at $2,045,000 after buying an additional 113,328 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Melco Resorts & Entertainment by 92.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock valued at $13,886,000 after purchasing an additional 1,150,500 shares in the last quarter. ARGA Investment Management LP boosted its holdings in Melco Resorts & Entertainment by 1.6% in the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after purchasing an additional 456,117 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Melco Resorts & Entertainment during the fourth quarter worth approximately $407,000. Finally, Sei Investments Co. lifted its position in shares of Melco Resorts & Entertainment by 20.4% during the 4th quarter. Sei Investments Co. now owns 725,100 shares of the company's stock worth $4,198,000 after buying an additional 123,042 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company's stock.
About Melco Resorts & Entertainment
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Melco Resorts & Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Melco Resorts & Entertainment wasn't on the list.
While Melco Resorts & Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
