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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.96.

A number of analysts recently commented on the company. CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. CLSA lowered Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 price objective on the stock. in a research note on Friday, June 5th. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Monday, February 16th. Finally, Wall Street Zen lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th.

Institutional Trading of Melco Resorts & Entertainment

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake 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 valued at $29,000 after acquiring an additional 4,702 shares during the last quarter. Bank of America Corp DE boosted its stake in Melco Resorts & Entertainment by 177.7% in the 1st quarter. Bank of America Corp DE now owns 890,787 shares of the company’s stock worth $5,060,000 after buying an additional 570,060 shares during the last quarter. Amundi boosted its stake in Melco Resorts & Entertainment by 49.3% in the 1st quarter. Amundi now owns 15,646 shares of the company’s stock worth $89,000 after buying an additional 5,166 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Melco Resorts & Entertainment by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,461,600 shares of the company’s stock worth $25,342,000 after buying an additional 325,900 shares during the last quarter. Finally, Capula Management Ltd acquired a new stake in Melco Resorts & Entertainment in the 1st quarter worth about $1,326,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 0.2%

Shares of MLCO stock opened at $5.63 on Thursday. The stock has a market cap of $2.19 billion, a P/E ratio of 9.71, a P/E/G ratio of 3.11 and a beta of 0.58. Melco Resorts & Entertainment has a fifty-two week low of $5.18 and a fifty-two week high of $10.15. The business has a fifty day simple moving average of $5.64 and a 200-day simple moving average of $6.39.

Melco Resorts & Entertainment Company Profile

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.