Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.
Several other research analysts have also issued reports on MLCO. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Weiss Ratings restated a "sell (d)" rating on shares of Melco Resorts & Entertainment in a research report on Thursday, January 22nd. UBS Group upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Monday, February 16th. Texas Capital upgraded shares of Melco Resorts & Entertainment to a "strong-buy" rating in a research report on Friday, January 23rd. Finally, CICC Research upgraded shares of Melco Resorts & Entertainment to an "outperform" rating in a research report on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.06.
Check Out Our Latest Research Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
Melco Resorts & Entertainment stock opened at $5.37 on Monday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 3.76 and a beta of 0.60. Melco Resorts & Entertainment has a 1 year low of $5.22 and a 1 year high of $10.15. The firm's 50 day moving average price is $5.69 and its two-hundred day moving average price is $6.89.
Hedge Funds Weigh In On Melco Resorts & Entertainment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in shares of Melco Resorts & Entertainment by 8.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,990 shares of the company's stock valued at $123,000 after buying an additional 1,295 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Melco Resorts & Entertainment by 15.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company's stock valued at $98,000 after purchasing an additional 1,819 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Melco Resorts & Entertainment by 5.1% in the 4th quarter. Fox Run Management L.L.C. now owns 46,211 shares of the company's stock valued at $350,000 after purchasing an additional 2,256 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Melco Resorts & Entertainment by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company's stock valued at $2,380,000 after purchasing an additional 2,442 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Melco Resorts & Entertainment by 3.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 69,325 shares of the company's stock valued at $525,000 after purchasing an additional 2,444 shares during the last quarter. 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 NASDAQ: MLCO is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company's portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco's properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.
In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.
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