Melco Resorts & Entertainment (NASDAQ:MLCO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Melco Resorts from a "buy" to a "hold," while other analysts remain mixed—JPMorgan cut its target to $7.70, Weiss Ratings kept a "sell," UBS upgraded to "buy," and the consensus rating is a "Moderate Buy" with a $9.06 average target.
• MLCO opened at $5.46, has a market cap of $2.13 billion and a P/E of 11.87, with a 50‑day/200‑day moving average of $5.98/$7.69 and a 1‑year range of $4.55–$10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other research firms also recently commented on MLCO. 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. Weiss Ratings reiterated 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 research report on Friday, January 23rd. Finally, UBS Group raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 price objective on the stock in a report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.06.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO opened at $5.46 on Friday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 11.87 and a beta of 0.58. The stock's fifty day moving average price is $5.98 and its 200 day moving average price is $7.69. Melco Resorts & Entertainment has a 1 year low of $4.55 and a 1 year high of $10.15.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at about $48,000. Hilton Head Capital Partners LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at $63,000. Quarry LP acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $68,000. Northwestern Mutual Wealth Management Co. purchased a new stake in 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 worth $79,000 after purchasing an additional 8,507 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

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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