Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Cut to $9.00 by Analysts at Susquehanna

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective lowered by Susquehanna from $10.00 to $9.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a positive rating on the stock.

Separately, Morgan Stanley reiterated an “equal weight” rating and issued a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Three 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, Melco Resorts & Entertainment has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Melco Resorts & Entertainment Stock Down 4.9 %

Shares of Melco Resorts & Entertainment stock opened at $5.62 on Monday. Melco Resorts & Entertainment has a 12-month low of $4.78 and a 12-month high of $9.39. The stock has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $6.16. The stock has a market capitalization of $2.36 billion, a P/E ratio of -25.54, a PEG ratio of 0.61 and a beta of 1.05.

Hedge Funds Weigh In On Melco Resorts & Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in Melco Resorts & Entertainment by 57.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock worth $5,107,000 after purchasing an additional 238,884 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Melco Resorts & Entertainment by 124.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock valued at $1,869,000 after buying an additional 133,086 shares during the period. Coronation Fund Managers Ltd. grew its position in 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 buying an additional 1,705,872 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Melco Resorts & Entertainment during the third quarter valued at about $720,000. Finally, Verition Fund Management LLC acquired a new position in Melco Resorts & Entertainment in the 3rd quarter valued at approximately $858,000. Institutional investors own 39.62% of the company’s stock.

About Melco Resorts & Entertainment

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.