Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $5.83 and last traded at $5.81. Approximately 859,919 shares were traded during trading, a decline of 74% from the average daily volume of 3,352,443 shares. The stock had previously closed at $5.60.
Analyst Ratings Changes
Separately, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.40.
Get Our Latest Analysis on MLCO
Melco Resorts & Entertainment Stock Performance
The stock has a 50-day moving average price of $6.43 and a two-hundred day moving average price of $6.44. The stock has a market capitalization of $2.43 billion, a PE ratio of -26.32, a PEG ratio of 0.98 and a beta of 1.05.
Hedge Funds Weigh In On Melco Resorts & Entertainment
Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $56,000. Ballentine Partners LLC bought a new stake in Melco Resorts & Entertainment during the third quarter valued at about $81,000. Leo Wealth LLC purchased a new position in shares of Melco Resorts & Entertainment in the third quarter valued at about $93,000. Creative Planning boosted its stake in shares of Melco Resorts & Entertainment by 35.9% in the third quarter. Creative Planning now owns 15,962 shares of the company's stock worth $124,000 after acquiring an additional 4,220 shares during the period. Finally, Signaturefd LLC grew its position in shares of Melco Resorts & Entertainment by 16.6% during the third quarter. Signaturefd LLC now owns 18,881 shares of the company's stock worth $147,000 after purchasing an additional 2,686 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.
Melco Resorts & Entertainment Company Profile
(
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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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