Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Rating of “Hold” from Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.32.

A number of equities research analysts have recently issued reports on the stock. CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and reduced their target price for the company from $6.10 to $6.00 in a report on Friday, July 10th. Citigroup decreased their price target on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a report on Friday, July 10th. Morgan Stanley lowered Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Melco Resorts & Entertainment by 8.3% in the second quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock valued at $123,000 after buying an additional 1,295 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Melco Resorts & Entertainment by 15.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock valued at $98,000 after buying an additional 1,819 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in Melco Resorts & Entertainment by 5.1% during the 4th quarter. Fox Run Management L.L.C. now owns 46,211 shares of the company’s stock valued at $350,000 after purchasing an additional 2,256 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Melco Resorts & Entertainment by 0.9% during the third quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock valued at $2,380,000 after buying an additional 2,442 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Melco Resorts & Entertainment by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 69,325 shares of the company’s stock worth $525,000 after acquiring an additional 2,444 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 1.2%

Shares of MLCO stock opened at $5.76 on Friday. The firm has a 50 day moving average price of $5.48 and a two-hundred day moving average price of $5.70. The company has a market capitalization of $2.24 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 3.55 and a beta of 0.59. Melco Resorts & Entertainment has a 12-month low of $5.07 and a 12-month high of $10.15.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.