Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $9.06

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.06.

MLCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.70 price objective (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. UBS Group raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Monday, February 16th. Finally, Texas Capital upgraded shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research note on Friday, January 23rd.

Institutional Trading of Melco Resorts & Entertainment

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in Melco Resorts & Entertainment by 1,370.8% during the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after buying an additional 4,702 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $48,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $63,000. U S Global Investors Inc. purchased a new position in shares of Melco Resorts & Entertainment during the first quarter worth approximately $68,000. Finally, Quarry LP purchased a new position in shares of Melco Resorts & Entertainment during the third quarter worth approximately $68,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 0.6%

MLCO stock opened at $5.48 on Friday. The business has a 50 day moving average price of $5.63 and a 200 day moving average price of $6.79. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 3.81 and a beta of 0.60. Melco Resorts & Entertainment has a fifty-two week low of $5.22 and a fifty-two week high of $10.15.

About Melco Resorts & Entertainment

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.