Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Rating of “Moderate Buy” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.7667.

Several equities research analysts have recently issued reports on MLCO shares. CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. Citigroup cut their price target on Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating for the company in a report on Friday, July 10th. Morgan Stanley downgraded Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and decreased their price objective for the stock from $6.10 to $6.00 in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. lowered their target price on Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating for the company in a research report on Thursday, July 16th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Melco Resorts & Entertainment by 1,370.8% in the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after acquiring an additional 4,702 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Melco Resorts & Entertainment by 71.5% during the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock valued at $40,000 after acquiring an additional 3,155 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $48,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $63,000. Finally, U S Global Investors Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the first quarter valued at approximately $68,000. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 1.8%

NASDAQ MLCO opened at $5.57 on Friday. Melco Resorts & Entertainment has a 12 month low of $5.07 and a 12 month high of $10.15. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 3.42 and a beta of 0.59. The company’s 50 day moving average is $5.47 and its two-hundred day moving average is $5.75.

Melco Resorts & Entertainment Company Profile

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.