Susquehanna Issues Pessimistic Forecast for Melco Resorts & Entertainment (NASDAQ:MLCO) Stock Price

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price target decreased by analysts at Susquehanna from $10.00 to $9.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 67.91% from the stock’s previous close.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Melco Resorts & Entertainment Stock Down 4.6 %

Shares of NASDAQ MLCO opened at $5.36 on Monday. The firm’s 50-day simple moving average is $5.99 and its 200 day simple moving average is $6.16. The stock has a market cap 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.

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of large investors have recently made changes to their positions in the company. ARGA Investment Management LP grew its holdings in shares of Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after buying an additional 456,117 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in shares of Melco Resorts & Entertainment by 15.0% during the third quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company’s stock worth $101,835,000 after purchasing an additional 1,705,872 shares during the period. BNP Paribas Financial Markets grew its position in Melco Resorts & Entertainment by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock valued at $5,107,000 after purchasing an additional 238,884 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Melco Resorts & Entertainment by 88.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock valued at $2,963,000 after buying an additional 178,993 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Melco Resorts & Entertainment by 124.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock worth $1,869,000 after buying an additional 133,086 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.