Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $9.40 Consensus Target Price from Brokerages

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 company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.40.

Separately, Morgan Stanley reiterated an "equal weight" rating and set a $7.50 price objective (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th.

Melco Resorts & Entertainment Stock Performance

Shares of Melco Resorts & Entertainment stock traded down $0.16 during trading on Friday, hitting $5.43. 2,057,166 shares of the company's stock were exchanged, compared to its average volume of 2,350,728. Melco Resorts & Entertainment has a 52-week low of $4.78 and a 52-week high of $9.39. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -24.68, a PEG ratio of 0.98 and a beta of 1.05. The business has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $6.31.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 valued at $44,000 after buying an additional 4,403 shares in the last quarter. Headlands Technologies LLC purchased a new position in Melco Resorts & Entertainment during the second quarter valued at $56,000. Ballentine Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $81,000. Leo Wealth LLC purchased a new stake in shares of Melco Resorts & Entertainment during the third quarter worth about $93,000. Finally, Creative Planning raised its position 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 purchasing an additional 4,220 shares during the last quarter. Institutional investors and hedge funds 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.