Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.45, but opened at $6.26. Melco Resorts & Entertainment shares last traded at $6.37, with a volume of 363,365 shares changing hands.
Wall Street Analyst Weigh In
Separately, Morgan Stanley restated an "equal weight" rating and issued a $7.50 target price (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Melco Resorts & Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.40.
View Our Latest Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
The stock has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $6.57. The firm has a market cap 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
Several hedge funds have recently bought and sold shares of MLCO. Eminence Capital LP increased its stake in Melco Resorts & Entertainment by 14.0% in the 2nd quarter. Eminence Capital LP now owns 17,502,002 shares of the company's stock worth $130,565,000 after acquiring an additional 2,154,509 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Melco Resorts & Entertainment by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company's stock valued at $5,107,000 after acquiring an additional 238,884 shares during the period. Coronation Fund Managers Ltd. increased its stake in Melco Resorts & Entertainment by 15.0% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company's stock worth $101,835,000 after buying an additional 1,705,872 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $2,914,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Melco Resorts & Entertainment during the third quarter valued at $720,000. Institutional investors own 39.62% of the company's stock.
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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