Melco Resorts & Entertainment (NASDAQ:MLCO) PT Lowered to $11.00

Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price reduced by Susquehanna from $15.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 66.92% from the company’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.78.

Melco Resorts & Entertainment Trading Up 3.9 %

Melco Resorts & Entertainment stock opened at $6.59 on Monday. The firm has a market capitalization of $2.93 billion, a P/E ratio of -10.46 and a beta of 1.11. The stock has a fifty day moving average price of $7.27 and a 200 day moving average price of $7.86. Melco Resorts & Entertainment has a 52 week low of $6.10 and a 52 week high of $14.00.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.14 billion. The business’s revenue was up 224.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. As a group, equities analysts predict that Melco Resorts & Entertainment will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Large investors have recently modified their holdings of the stock. TORQ CAPITAL MANAGEMENT HK Ltd boosted its holdings in Melco Resorts & Entertainment by 268.5% in the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock valued at $16,140,000 after purchasing an additional 1,325,878 shares during the last quarter. Matthews International Capital Management LLC increased its position in Melco Resorts & Entertainment by 247.0% in the 3rd quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock valued at $11,809,000 after acquiring an additional 849,949 shares during the period. Qube Research & Technologies Ltd increased its position in Melco Resorts & Entertainment by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 411,430 shares of the company’s stock valued at $4,069,000 after acquiring an additional 179,070 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Melco Resorts & Entertainment by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock valued at $1,034,000 after acquiring an additional 2,700 shares during the period. Finally, Barclays PLC increased its position in Melco Resorts & Entertainment by 107.7% in the 3rd quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock valued at $18,940,000 after acquiring an additional 992,813 shares during the period. Institutional investors and hedge funds own 39.62% of the company’s stock.

About Melco Resorts & Entertainment

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.