Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Rating of “Hold” by Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.40.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Melco Resorts & Entertainment from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th.

Institutional Trading of Melco Resorts & Entertainment

A number of institutional investors have recently made changes to their positions in MLCO. FNY Investment Advisers LLC purchased a new position in Melco Resorts & Entertainment in the second quarter worth approximately $38,000. Quarry LP acquired a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $68,000. Global Retirement Partners LLC lifted its stake in shares of Melco Resorts & Entertainment by 6,805.6% in the 3rd quarter. Global Retirement Partners LLC now owns 8,632 shares of the company’s stock valued at $79,000 after purchasing an additional 8,507 shares during the last quarter. Solstein Capital LLC grew its holdings in shares of Melco Resorts & Entertainment by 74.9% during the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock worth $68,000 after purchasing an additional 4,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter worth about $71,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Down 0.8%

NASDAQ:MLCO opened at $7.51 on Monday. Melco Resorts & Entertainment has a 52 week low of $4.55 and a 52 week high of $10.15. The stock has a market capitalization of $3.15 billion, a PE ratio of 28.89 and a beta of 0.66. The stock’s 50-day moving average price is $8.42 and its 200-day moving average price is $8.65.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. Melco Resorts & Entertainment’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

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.