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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.40.

Separately, Morgan Stanley reissued an “equal weight” rating and set a $7.50 price objective (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO opened at $5.53 on Friday. The stock’s 50-day simple moving average is $6.18 and its two-hundred day simple moving average is $6.27. Melco Resorts & Entertainment has a twelve month low of $4.78 and a twelve month high of $9.39. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -25.14, a PEG ratio of 0.98 and a beta of 1.05.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after acquiring an additional 4,403 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at approximately $56,000. Empirical Asset Management LLC bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth approximately $73,000. Ballentine Partners LLC purchased a new position in shares of Melco Resorts & Entertainment in the third quarter worth $81,000. Finally, Leo Wealth LLC bought a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $93,000. Hedge funds and other institutional investors 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.