Melco Resorts & Entertainment (NASDAQ:MLCO) Sets New 1-Year Low – Should You Sell?

Melco Resorts & Entertainment Limited (NASDAQ:MLCO)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $4.98 and last traded at $4.9950, with a volume of 159487 shares changing hands. The stock had previously closed at $5.06.

Analysts Set New Price Targets

Several research analysts recently weighed in on MLCO shares. Morgan Stanley lowered shares of Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Susquehanna set a $7.00 target price on shares of Melco Resorts & Entertainment in a report on Friday, August 14th. JPMorgan Chase & Co. reduced their price target on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.27.

Melco Resorts & Entertainment Trading Up 0.8%

The company has a market cap of $1.92 billion, a P/E ratio of 8.42, a PEG ratio of 3.80 and a beta of 0.58. The business has a 50 day moving average price of $5.40 and a 200-day moving average price of $5.53.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Melco Resorts & Entertainment had a net margin of 4.50% and a negative return on equity of 23.81%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted $0.04 EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts expect that Melco Resorts & Entertainment Limited will post 0.42 earnings per share for the current year.

Institutional Trading of Melco Resorts & Entertainment

A number of hedge funds have recently modified their holdings of MLCO. Parallel Advisors LLC grew its stake in Melco Resorts & Entertainment by 1,370.8% in the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock valued at $29,000 after buying an additional 4,702 shares during the last quarter. GAMMA Investing LLC lifted its position in Melco Resorts & Entertainment by 71.5% during the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock worth $40,000 after acquiring an additional 3,155 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Melco Resorts & Entertainment during the fourth quarter worth approximately $48,000. Hilton Head Capital Partners LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth approximately $63,000. Finally, U S Global Investors Inc. bought a new stake in shares of Melco Resorts & Entertainment during the first quarter worth approximately $68,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.