Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $9.40 Average Price Target from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $9.40.

Separately, 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.

Melco Resorts & Entertainment Stock Up 0.5 %

MLCO opened at $6.21 on Tuesday. The company has a market capitalization of $2.61 billion, a PE ratio of -28.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The firm has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $6.56. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.56.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently modified their holdings of MLCO. Signaturefd LLC lifted its stake in Melco Resorts & Entertainment by 16.6% in the third quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock worth $147,000 after purchasing an additional 2,686 shares during the last quarter. Creative Planning boosted its holdings in Melco Resorts & Entertainment by 35.9% during the 3rd quarter. Creative Planning now owns 15,962 shares of the company’s stock valued at $124,000 after acquiring an additional 4,220 shares during the period. Blue Trust Inc. grew its position in Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock valued at $53,000 after acquiring an additional 5,191 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Melco Resorts & Entertainment in the second quarter worth $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Melco Resorts & Entertainment by 12.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock worth $437,000 after purchasing an additional 6,148 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

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.