Melco Resorts & Entertainment (NASDAQ:MLCO) Upgraded at Wall Street Zen

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

MLCO has been the topic of several other reports. Citigroup raised Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $7.20 to $9.50 in a research report on Tuesday, July 1st. UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research report on Wednesday, April 30th. Finally, Bank of America boosted their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.11.

Melco Resorts & Entertainment Trading Up 0.6%

NASDAQ MLCO traded up $0.05 on Monday, reaching $8.61. 4,823,220 shares of the stock were exchanged, compared to its average volume of 4,145,769. Melco Resorts & Entertainment has a one year low of $4.55 and a one year high of $8.90. The firm has a market capitalization of $3.61 billion, a PE ratio of 61.50, a PEG ratio of 0.66 and a beta of 0.82. The company's 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $5.80.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 12.58% and a net margin of 1.28%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. Sell-side analysts forecast that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Melco Resorts & Entertainment during the first quarter valued at approximately $34,000. Brown Advisory Inc. purchased a new position in Melco Resorts & Entertainment during the 1st quarter valued at $53,000. Aigen Investment Management LP bought a new position in Melco Resorts & Entertainment in the 1st quarter valued at $59,000. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 88.1% in the first quarter. GAMMA Investing LLC now owns 14,171 shares of the company's stock worth $75,000 after purchasing an additional 6,638 shares during the period. Finally, US Bancorp DE lifted its position in shares of Melco Resorts & Entertainment by 294.1% during the first quarter. US Bancorp DE now owns 20,874 shares of the company's stock worth $110,000 after purchasing an additional 15,578 shares during the last quarter. 39.62% of the stock is owned by hedge funds and other institutional investors.

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.