Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report)'s share price was down 4.9% on Monday . The stock traded as low as $5.24 and last traded at $5.25. Approximately 1,859,895 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,956,198 shares. The stock had previously closed at $5.52.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on MLCO shares. Morgan Stanley reissued an "equal weight" rating and issued a $7.50 price target (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Citigroup lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $10.00 to $6.00 in a research report on Monday. Finally, Susquehanna decreased their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Melco Resorts & Entertainment currently has a consensus rating of "Hold" and an average price target of $7.40.
Read Our Latest Analysis on MLCO
Melco Resorts & Entertainment Trading Up 9.0 %
The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -28.50, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. The company's 50-day moving average is $5.85 and its 200-day moving average is $6.13.
Institutional Trading of Melco Resorts & Entertainment
Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted 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 worth $44,000 after acquiring an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $58,000. Empirical Asset Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $73,000. Ballentine Partners LLC acquired a new stake in Melco Resorts & Entertainment in the third quarter valued at approximately $81,000. Finally, Leo Wealth LLC acquired a new stake in Melco Resorts & Entertainment in the third quarter valued at approximately $93,000. Institutional investors and hedge funds own 39.62% of the company's stock.
Melco Resorts & Entertainment Company Profile
(
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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