Melco Resorts & Entertainment (NASDAQ:MLCO) Reaches New 1-Year Low – Should You Sell?

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reached a new 52-week low during trading on Monday. The company traded as low as $3.70 and last traded at $3.7450, with a volume of 3,269,090 shares. The stock had previously closed at $3.73.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Capital One Financial set a $5.50 price objective on Melco Resorts & Entertainment in a research report on Friday, October 16th. CICC Research cut Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a research note on Sunday, October 18th. Citigroup started coverage on shares of Melco Resorts & Entertainment in a research note on Monday, October 12th. They set a “buy” rating and a $9.40 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Tuesday, August 18th. Finally, CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and cut their price objective for the company from $6.10 to $6.00 in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.83.

Melco Resorts & Entertainment Stock Up 5.5%

The business has a fifty day simple moving average of $4.73 and a 200 day simple moving average of $5.25. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 6.56, a P/E/G ratio of 2.87 and a beta of 0.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Melco Resorts & Entertainment had a negative return on equity of 23.81% and a net margin of 4.50%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities analysts anticipate that Melco Resorts & Entertainment Limited will post 0.41 EPS for the current fiscal year.

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently added to or reduced their stakes in MLCO. Leo Wealth LLC acquired a new position in shares of Melco Resorts & Entertainment during the third quarter worth approximately $54,000. Signaturefd LLC raised its position in shares of Melco Resorts & Entertainment by 30.4% during the 3rd quarter. Signaturefd LLC now owns 15,108 shares of the company’s stock valued at $68,000 after acquiring an additional 3,526 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Melco Resorts & Entertainment by 24.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,500 shares of the company’s stock worth $82,000 after acquiring an additional 3,000 shares during the last quarter. Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment during the 2nd quarter worth approximately $73,000. Finally, Baron Wealth Management LLC bought a new position in shares of Melco Resorts & Entertainment during the second quarter worth about $95,000. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited is a developer, owner and operator of integrated resort facilities focused on gaming, hospitality, entertainment, dining, retail and convention services. The company’s properties combine casinos with luxury hotels, restaurants, shopping areas, theaters and other leisure attractions.

Melco operates several major resorts in Macau, including City of Dreams, Altira Macau and Studio City. Its Macau operations also include the Mocha Clubs electronic gaming-machine business.