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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have received an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.00.

Several equities analysts have recently issued reports on MLCO shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.50 price objective (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Susquehanna dropped their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a report on Monday.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLCO. GAMMA Investing LLC increased its holdings in shares of Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after purchasing an additional 4,403 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $58,000. Empirical Asset Management LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter worth approximately $73,000. Ballentine Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at $81,000. Finally, Leo Wealth LLC purchased a new position in shares of Melco Resorts & Entertainment during the 3rd quarter valued at $93,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Down 4.6 %

Shares of MLCO stock opened at $5.36 on Wednesday. The stock has a 50-day simple moving average of $5.99 and a 200 day simple moving average of $6.16. The stock has a market capitalization of $2.25 billion, a P/E ratio of -24.36, a P/E/G ratio of 0.61 and a beta of 1.04. Melco Resorts & Entertainment has a fifty-two week low of $4.78 and a fifty-two week high of $9.39.

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.