Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Rating of “Moderate Buy” by Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.06.

Several research analysts have commented on MLCO shares. Texas Capital raised Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research note on Friday, January 16th. CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a report on Sunday, April 19th. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price target for the company in a report on Monday, February 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Melco Resorts & Entertainment by 1,370.8% during the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after purchasing an additional 4,702 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $48,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $63,000. U S Global Investors Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the first quarter worth $68,000. Finally, Quarry LP acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth $68,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Down 4.1%

MLCO opened at $5.37 on Friday. 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 52 week low of $5.22 and a 52 week high of $10.15. The business’s 50 day moving average is $5.69 and its two-hundred day moving average is $6.89.

About Melco Resorts & Entertainment

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.