Susquehanna Cuts Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target to $9.00

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective reduced by analysts at Susquehanna from $10.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price points to 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 previously from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Melco Resorts & Entertainment Trading Down 4.6 %

Melco Resorts & Entertainment stock opened at $5.36 on Monday. The company has a market capitalization 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 1-year low of $4.78 and a 1-year high of $9.39. The firm’s fifty day simple moving average is $5.99 and its 200-day simple moving average is $6.16.

Hedge Funds Weigh In On Melco Resorts & Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in MLCO. GAMMA Investing LLC raised its holdings in shares of Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after buying an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth about $58,000. Empirical Asset Management LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter valued at about $73,000. Ballentine Partners LLC acquired a new position in Melco Resorts & Entertainment in the third quarter valued at about $81,000. Finally, Leo Wealth LLC bought a new position in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $93,000. 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.