Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $8.67

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.6667.

MLCO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Monday, February 16th. Wall Street Zen cut Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Finally, Texas Capital raised shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd.

Melco Resorts & Entertainment Price Performance

MLCO stock opened at $5.95 on Tuesday. Melco Resorts & Entertainment has a 12 month low of $4.55 and a 12 month high of $10.15. The firm has a market capitalization of $2.32 billion, a PE ratio of 12.94 and a beta of 0.63. The company’s 50 day simple moving average is $6.58 and its 200-day simple moving average is $8.08.

Institutional Trading of Melco Resorts & Entertainment

Several large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in shares of Melco Resorts & Entertainment by 8.3% during the second quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock worth $123,000 after purchasing an additional 1,295 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Melco Resorts & Entertainment by 15.5% during the 2nd 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 during the period. Fox Run Management L.L.C. lifted its position 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 worth $350,000 after acquiring an additional 2,256 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Melco Resorts & Entertainment by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock worth $2,380,000 after acquiring an additional 2,442 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Melco Resorts & Entertainment by 3.7% in 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 period. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Company Profile

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.