Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.
Several other research analysts have also issued reports on MLCO. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Weiss Ratings restated a "sell (d)" rating on shares of Melco Resorts & Entertainment in a research report on Thursday, January 22nd. UBS Group upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Monday, February 16th. Texas Capital upgraded shares of Melco Resorts & Entertainment to a "strong-buy" rating in a research report on Friday, January 23rd. Finally, CICC Research upgraded shares of Melco Resorts & Entertainment to an "outperform" rating in a research report on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.06.
Check Out Our Latest Research Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
Melco Resorts & Entertainment stock opened at $5.37 on Monday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 3.76 and a beta of 0.60. Melco Resorts & Entertainment has a 1 year low of $5.22 and a 1 year high of $10.15. The firm's 50 day moving average price is $5.69 and its two-hundred day moving average price is $6.89.
Hedge Funds Weigh In On Melco Resorts & Entertainment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in shares of Melco Resorts & Entertainment by 8.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,990 shares of the company's stock valued at $123,000 after buying an additional 1,295 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Melco Resorts & Entertainment by 15.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company's stock valued at $98,000 after purchasing an additional 1,819 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Melco Resorts & Entertainment by 5.1% in the 4th quarter. Fox Run Management L.L.C. now owns 46,211 shares of the company's stock valued at $350,000 after purchasing an additional 2,256 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Melco Resorts & Entertainment by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company's stock valued at $2,380,000 after purchasing an additional 2,442 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Melco Resorts & Entertainment by 3.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 69,325 shares of the company's stock valued at $525,000 after purchasing an additional 2,444 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company's stock.
Melco Resorts & Entertainment Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply click the link below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
