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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.24.

Several equities research analysts have recently weighed in on MLCO shares. Citigroup downgraded Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $6.00 in a report on Monday, February 10th. Susquehanna decreased their price target on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $7.50 to $6.70 in a research note on Monday, March 3rd.

Melco Resorts & Entertainment Stock Down 1.3 %

Shares of NASDAQ MLCO opened at $5.38 on Thursday. The business has a 50-day moving average price of $5.67 and a 200 day moving average price of $6.20. The stock has a market cap of $2.26 billion, a PE ratio of -24.45, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. Melco Resorts & Entertainment has a 52-week low of $4.78 and a 52-week high of $8.90.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently bought and sold shares of MLCO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Melco Resorts & Entertainment by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 447,953 shares of the company’s stock worth $2,594,000 after acquiring an additional 67,581 shares during the period. Vident Advisory LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter valued at about $142,000. Twinbeech Capital LP boosted its holdings in Melco Resorts & Entertainment by 2,039.4% in the 4th quarter. Twinbeech Capital LP now owns 219,336 shares of the company’s stock valued at $1,270,000 after purchasing an additional 209,084 shares in the last quarter. Two Sigma Advisers LP increased its position in Melco Resorts & Entertainment by 759.1% during the 4th quarter. Two Sigma Advisers LP now owns 128,000 shares of the company’s stock worth $741,000 after purchasing an additional 113,100 shares during the period. Finally, Two Sigma Investments LP increased its position in Melco Resorts & Entertainment by 1,588.1% during the 4th quarter. Two Sigma Investments LP now owns 579,341 shares of the company’s stock worth $3,354,000 after purchasing an additional 545,021 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Company Profile

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.