Melco Resorts & Entertainment (NASDAQ:MLCO - Free Report) had its price target upped by Citigroup from $13.75 to $14.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.
Several other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Melco Resorts & Entertainment from a sell rating to a hold rating in a research report on Friday, April 5th. Susquehanna dropped their price objective on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a positive rating for the company in a research report on Monday. Finally, Morgan Stanley restated an equal weight rating and issued a $9.60 price objective on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Melco Resorts & Entertainment currently has a consensus rating of Moderate Buy and a consensus target price of $13.82.
Read Our Latest Report on MLCO
Melco Resorts & Entertainment Price Performance
Shares of NASDAQ:MLCO traded up $0.05 during trading on Wednesday, reaching $6.59. The stock had a trading volume of 5,928,927 shares, compared to its average volume of 3,182,997. Melco Resorts & Entertainment has a 52 week low of $6.10 and a 52 week high of $13.91. The business's 50-day moving average price is $7.18 and its 200 day moving average price is $7.82. The stock has a market capitalization of $2.93 billion, a PE ratio of -10.46 and a beta of 1.11.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm posted ($0.14) EPS. The business's revenue was up 55.2% on a year-over-year basis. Analysts forecast that Melco Resorts & Entertainment will post 0.28 EPS for the current year.
Institutional Trading of Melco Resorts & Entertainment
Several institutional investors and hedge funds have recently made changes to their positions in MLCO. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Melco Resorts & Entertainment by 12.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,102 shares of the company's stock valued at $466,000 after acquiring an additional 5,200 shares during the last quarter. WESPAC Advisors LLC grew its holdings in shares of Melco Resorts & Entertainment by 7.4% in the 3rd quarter. WESPAC Advisors LLC now owns 31,994 shares of the company's stock valued at $316,000 after buying an additional 2,193 shares during the period. Matthews International Capital Management LLC grew its holdings in shares of Melco Resorts & Entertainment by 247.0% in the 3rd quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company's stock valued at $11,809,000 after buying an additional 849,949 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $269,000. Finally, Banque Pictet & Cie SA acquired a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $175,000. Institutional investors own 39.62% of the company's stock.
About Melco Resorts & Entertainment
(
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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.
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