Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $7.40

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have been given an average rating of "Moderate Buy" by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.24.

A number of research analysts have recently weighed in on MLCO shares. Citigroup downgraded Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and lowered their price target for the company from $10.00 to $6.00 in a report on Monday, February 10th. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $7.50 to $6.70 in a research report on Monday. Finally, Susquehanna reduced their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a research report on Monday, February 3rd.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO stock traded up $0.09 on Friday, reaching $5.65. 4,039,567 shares of the company's stock traded hands, compared to its average volume of 4,133,384. Melco Resorts & Entertainment has a 12-month low of $4.78 and a 12-month high of $8.90. The company has a market capitalization of $2.37 billion, a P/E ratio of -25.68, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. The business's 50 day moving average price is $5.70 and its two-hundred day moving average price is $6.18.

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently made changes to their positions in MLCO. GAMMA Investing LLC boosted its stake in shares of Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after acquiring an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth about $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth about $73,000. Creative Planning boosted its stake in shares of Melco Resorts & Entertainment by 35.9% during the 3rd quarter. Creative Planning now owns 15,962 shares of the company's stock worth $124,000 after acquiring an additional 4,220 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth about $142,000. Institutional investors own 39.62% of the company's stock.

About Melco Resorts & Entertainment

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.