Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.78.

MLCO has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $9.60 price target on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. StockNews.com upgraded Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a report on Friday, April 5th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at approximately $38,248,000. BlackRock Inc. raised its stake in shares of Melco Resorts & Entertainment by 52.3% in the 3rd quarter. BlackRock Inc. now owns 9,078,406 shares of the company's stock valued at $60,190,000 after acquiring an additional 3,117,633 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Melco Resorts & Entertainment by 134.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,874,795 shares of the company's stock valued at $59,521,000 after acquiring an additional 2,792,429 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Melco Resorts & Entertainment by 275.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,677,046 shares of the company's stock valued at $32,615,000 after acquiring an additional 2,698,036 shares in the last quarter. Finally, ARGA Investment Management LP raised its stake in shares of Melco Resorts & Entertainment by 6.1% in the 1st quarter. ARGA Investment Management LP now owns 29,336,228 shares of the company's stock valued at $211,514,000 after acquiring an additional 1,695,442 shares in the last quarter. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO traded down $0.17 during mid-day trading on Thursday, reaching $6.23. The company's stock had a trading volume of 4,145,088 shares, compared to its average volume of 3,069,906. The company's fifty day simple moving average is $7.60 and its two-hundred day simple moving average is $7.99. Melco Resorts & Entertainment has a twelve month low of $6.18 and a twelve month high of $14.45. The stock has a market cap of $2.77 billion, a P/E ratio of -9.89 and a beta of 1.11.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. The business's revenue for the quarter was up 224.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) earnings per share. Sell-side analysts expect that Melco Resorts & Entertainment will post 0.28 EPS for the current fiscal year.

Melco Resorts & Entertainment Company Profile

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.