Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report)'s share price traded up 8.8% during trading on Thursday after Citigroup raised their price target on the stock from $13.75 to $14.00. Citigroup currently has a buy rating on the stock. Melco Resorts & Entertainment traded as high as $7.17 and last traded at $7.17. 3,839,369 shares traded hands during trading, an increase of 19% from the average session volume of 3,215,203 shares. The stock had previously closed at $6.59.
Several other brokerages have also recently commented on MLCO. Morgan Stanley reiterated an "equal weight" rating and issued a $9.60 target price on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a report on Friday, April 5th. Finally, Susquehanna decreased 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 report on Monday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.82.
Read Our Latest Stock Report on Melco Resorts & Entertainment
Institutional Trading of Melco Resorts & Entertainment
A number of institutional investors have recently added to or reduced their stakes in MLCO. GAMMA Investing LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $88,000. Greenleaf Trust acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at approximately $92,000. 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 acquiring an additional 1,386 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $111,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.
Melco Resorts & Entertainment Stock Up 8.5 %
The company has a market cap of $3.18 billion, a P/E ratio of -17.02 and a beta of 1.10. The stock's 50-day moving average price is $7.15 and its 200 day moving average price is $7.81.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 8.00%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Melco Resorts & Entertainment's revenue was up 55.2% compared to the same quarter last year. Analysts expect that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current fiscal year.
About Melco Resorts & Entertainment
(
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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