Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.40.
Separately, Morgan Stanley reiterated an "equal weight" rating and issued a $7.50 price objective (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday.
Get Our Latest Stock Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Price Performance
Shares of MLCO traded down $0.11 during mid-day trading on Tuesday, reaching $6.34. 3,182,491 shares of the company's stock were exchanged, compared to its average volume of 3,366,277. The business's fifty day simple moving average is $6.70 and its 200-day simple moving average is $6.57. Melco Resorts & Entertainment has a 52-week low of $4.78 and a 52-week high of $9.56. The stock has a market capitalization of $2.66 billion, a PE ratio of -28.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in MLCO. Ridgewood Investments LLC purchased a new stake in Melco Resorts & Entertainment during the 2nd quarter worth approximately $42,000. Blue Trust Inc. increased its stake in shares of Melco Resorts & Entertainment by 243.4% in the second quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock worth $53,000 after buying an additional 5,191 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Melco Resorts & Entertainment in the second quarter valued at $56,000. Ballentine Partners LLC bought a new position in Melco Resorts & Entertainment during the 3rd quarter valued at $81,000. Finally, Leo Wealth LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter worth $93,000. 39.62% of the stock is owned by institutional investors and hedge funds.
About Melco Resorts & Entertainment
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Get Free ReportMelco 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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