Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) were down 3.1% during trading on Thursday . The company traded as low as $5.60 and last traded at $5.61. Approximately 480,691 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,360,736 shares. The stock had previously closed at $5.79.
Analyst Ratings Changes
Separately, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.50 price target (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Three 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 has a consensus rating of "Moderate Buy" and an average price target of $9.40.
Read Our Latest Stock Analysis on MLCO
Melco Resorts & Entertainment Stock Down 4.7 %
The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $6.42. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -25.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05.
Institutional Trading of Melco Resorts & Entertainment
Institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at approximately $492,000. XTX Topco Ltd bought a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $328,000. Verition Fund Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth $858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Melco Resorts & Entertainment by 88.9% during the third 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 buying an additional 178,993 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Melco Resorts & Entertainment by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company's stock valued at $437,000 after buying an additional 6,148 shares during the period. Institutional investors 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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