Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $7.24, but opened at $7.50. Melco Resorts & Entertainment shares last traded at $7.40, with a volume of 1,303,721 shares trading hands.
Wall Street Analyst Weigh In
A number of research analysts have commented on MLCO shares. Susquehanna cut their price target on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a "positive" rating for the company in a research note on Monday, April 29th. Citigroup boosted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $8.30 to $9.60 in a research note on Monday. Finally, StockNews.com raised shares of Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.82.
View Our Latest Research Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -17.24 and a beta of 1.10. The firm's 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $7.79.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. Melco Resorts & Entertainment's revenue for the quarter was up 55.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. Equities research analysts expect that Melco Resorts & Entertainment Limited will post 0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its stake in Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company's stock valued at $92,000 after buying an additional 1,386 shares during the period. WESPAC Advisors LLC grew its holdings in Melco Resorts & Entertainment by 7.4% during the third quarter. WESPAC Advisors LLC now owns 31,994 shares of the company's stock valued at $316,000 after purchasing an additional 2,193 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Melco Resorts & Entertainment by 2.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company's stock valued at $1,034,000 after purchasing an additional 2,700 shares in the last quarter. Tobam increased its stake in Melco Resorts & Entertainment by 38.5% in the fourth quarter. Tobam now owns 13,728 shares of the company's stock valued at $122,000 after purchasing an additional 3,818 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter worth $37,000. Institutional investors own 39.62% of the company's stock.
Melco Resorts & Entertainment Company Profile
(
Get Free Report)
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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