Melco Resorts & Entertainment (NASDAQ:MLCO) Cut to "Sell" at UBS Group

UBS Group cut shares of Melco Resorts & Entertainment (NASDAQ:MLCO - Free Report) from a buy rating to a sell rating in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has $4.60 price objective on the stock.

A number of other research firms have also recently weighed in on MLCO. Citigroup upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price on the stock in a research note on Thursday, April 10th. Susquehanna reduced their target price on shares of 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. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and an average target price of $6.84.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock traded up $0.14 on Wednesday, hitting $5.49. The stock had a trading volume of 1,329,038 shares, compared to its average volume of 3,768,776. Melco Resorts & Entertainment has a 12-month low of $4.55 and a 12-month high of $8.90. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -24.98, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. The business has a 50 day moving average of $5.26 and a 200 day moving average of $5.82.

Institutional Trading of Melco Resorts & Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of MLCO. GAMMA Investing LLC increased its holdings in shares of Melco Resorts & Entertainment by 140.7% in the fourth quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after purchasing an additional 4,403 shares during the period. Brown Advisory Inc. purchased a new position in shares of Melco Resorts & Entertainment during the first quarter worth about $53,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth approximately $58,000. Empirical Asset Management LLC purchased a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $73,000. Finally, Vident Advisory LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $142,000. 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.