Susquehanna Cuts Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target to $9.00

Melco Resorts & Entertainment (NASDAQ:MLCO - Free Report) had its target price trimmed by Susquehanna from $10.00 to $9.00 in a research report released on Monday,Benzinga reports. The firm currently has a positive rating on the stock.

Separately, Morgan Stanley restated an "equal weight" rating and issued a $7.50 price objective (down from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO traded up $0.01 during trading hours on Monday, hitting $5.34. 4,095,463 shares of the company were exchanged, compared to its average volume of 3,966,626. The firm's 50 day moving average is $5.97 and its 200-day moving average is $6.15. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.39. The company has a market cap of $2.24 billion, a PE ratio of -24.27, a PEG ratio of 0.61 and a beta of 1.04.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. increased its position in shares of Melco Resorts & Entertainment by 15.0% during the third quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company's stock valued at $101,835,000 after purchasing an additional 1,705,872 shares during the period. ARGA Investment Management LP increased its holdings in Melco Resorts & Entertainment by 1.6% in the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after buying an additional 456,117 shares during the period. BNP Paribas Financial Markets increased its holdings in Melco Resorts & Entertainment by 57.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company's stock valued at $5,107,000 after buying an additional 238,884 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Melco Resorts & Entertainment by 88.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company's stock worth $2,963,000 after acquiring an additional 178,993 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Melco Resorts & Entertainment by 124.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company's stock valued at $1,869,000 after acquiring an additional 133,086 shares during the period. 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.