Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.29 and last traded at $27.46, with a volume of 2098300 shares trading hands. The stock had previously closed at $27.05.

A number of research firms recently issued reports on MLCO. TheStreet upgraded Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a report on Tuesday, November 21st. BidaskClub upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a report on Thursday. Daiwa Capital Markets upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, November 30th. Nomura upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $29.00 in a report on Tuesday, September 19th. Finally, Instinet upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $29.00 in a report on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Melco Resorts & Entertainment presently has a consensus rating of “Buy” and an average price target of $25.78.

The stock has a market capitalization of $13,893.38, a price-to-earnings ratio of 33.62, a PEG ratio of 1.08 and a beta of 1.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.08 and a quick ratio of 1.07.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, November 13th. Melco Resorts & Entertainment’s payout ratio is 56.45%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. lifted its holdings in Melco Resorts & Entertainment by 17.2% during the 3rd quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock worth $383,000 after buying an additional 2,324 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter worth about $112,000. LS Investment Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter worth about $129,000. Nordea Investment Management AB purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter worth about $136,000. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter worth about $173,000. 41.31% of the stock is owned by institutional investors.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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