Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report)'s stock had its "equal weight" rating reissued by stock analysts at Morgan Stanley in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $7.50 price target on the stock, down from their previous price target of $9.60. Morgan Stanley's price target would indicate a potential upside of 18.30% from the company's previous close.
Melco Resorts & Entertainment Stock Performance
Shares of NASDAQ:MLCO traded down $0.11 on Tuesday, hitting $6.34. 3,182,491 shares of the company's stock were exchanged, compared to its average volume of 3,366,277. The company has a market capitalization of $2.66 billion, a PE ratio of -28.82, a P/E/G ratio of 1.01 and a beta of 1.05. Melco Resorts & Entertainment has a 1-year low of $4.78 and a 1-year high of $9.56. The firm's 50-day moving average is $6.70 and its 200 day moving average is $6.57.
Institutional Trading of Melco Resorts & Entertainment
Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its position in Melco Resorts & Entertainment by 16.6% during the third quarter. Signaturefd LLC now owns 18,881 shares of the company's stock valued at $147,000 after acquiring an additional 2,686 shares in the last quarter. Creative Planning boosted its holdings in Melco Resorts & Entertainment by 35.9% during the third quarter. Creative Planning now owns 15,962 shares of the company's stock valued at $124,000 after purchasing an additional 4,220 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 243.4% during the second quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock valued at $53,000 after acquiring an additional 5,191 shares during the period. Ridgewood Investments LLC bought a new position in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Melco Resorts & Entertainment by 12.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company's stock worth $437,000 after buying an additional 6,148 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.
About Melco Resorts & Entertainment
(
Get Free Report)
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.
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