Melco Resorts & Entertainment Limited (NASDAQ:MLCO) gapped up prior to trading on Friday . The stock had previously closed at $19.97, but opened at $20.57. Melco Resorts & Entertainment shares last traded at $20.84, with a volume of 5925024 shares changing hands.

Several equities research analysts have commented on the stock. Wolfe Research raised shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. ValuEngine raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Nomura lowered their target price on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, July 9th. Finally, BidaskClub downgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.16.

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $9.91 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.45 and a beta of 1.53.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. equities analysts anticipate that Melco Resorts & Entertainment Limited will post 1.15 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in shares of Melco Resorts & Entertainment during the second quarter worth $293,000. Mount Yale Investment Advisors LLC increased its position in shares of Melco Resorts & Entertainment by 15.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 86,224 shares of the company’s stock worth $2,414,000 after acquiring an additional 11,759 shares in the last quarter. Nomura Holdings Inc. grew its position in Melco Resorts & Entertainment by 50.0% in the second quarter. Nomura Holdings Inc. now owns 148,039 shares of the company’s stock valued at $4,145,000 after purchasing an additional 49,364 shares in the last quarter. Andra AP fonden bought a new position in Melco Resorts & Entertainment in the second quarter valued at $1,879,000. Finally, Verition Fund Management LLC grew its position in Melco Resorts & Entertainment by 317.8% in the second quarter. Verition Fund Management LLC now owns 47,096 shares of the company’s stock valued at $1,319,000 after purchasing an additional 35,824 shares in the last quarter. 40.50% of the stock is owned by institutional investors.

About Melco Resorts & Entertainment (NASDAQ:MLCO)

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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