Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $9.40

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.40.

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

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently added to or reduced their stakes in MLCO. GAMMA Investing LLC lifted its holdings in Melco Resorts & Entertainment by 140.7% during the fourth 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 in the last quarter. Headlands Technologies LLC purchased a new position in Melco Resorts & Entertainment during the second quarter valued at approximately $56,000. Ballentine Partners LLC purchased a new position in Melco Resorts & Entertainment during the third quarter valued at approximately $81,000. Leo Wealth LLC purchased a new position in Melco Resorts & Entertainment during the third quarter valued at approximately $93,000. Finally, Creative Planning lifted its holdings in Melco Resorts & Entertainment by 35.9% during the third quarter. Creative Planning now owns 15,962 shares of the company’s stock valued at $124,000 after purchasing an additional 4,220 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Up 2.4 %

Shares of MLCO stock opened at $5.56 on Friday. The company has a 50 day moving average price of $6.20 and a 200-day moving average price of $6.28. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.39. The firm has a market capitalization of $2.33 billion, a PE ratio of -25.27, a P/E/G ratio of 0.98 and a beta of 1.05.

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.