Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $9.06

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.06.

Several equities analysts have issued reports on MLCO shares. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Monday, February 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a research note on Friday, January 16th. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Texas Capital upgraded shares of Melco Resorts & Entertainment to a “strong-buy” rating in a report on Friday, January 23rd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Melco Resorts & Entertainment by 11.1% in the first quarter. Royal Bank of Canada now owns 180,161 shares of the company’s stock worth $949,000 after acquiring an additional 18,010 shares in the last quarter. Millennium Management LLC raised its position in shares of Melco Resorts & Entertainment by 69.3% during the first quarter. Millennium Management LLC now owns 1,915,978 shares of the company’s stock worth $10,097,000 after purchasing an additional 784,403 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock worth $31,700,000 after purchasing an additional 846,504 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Melco Resorts & Entertainment by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 369,491 shares of the company’s stock worth $2,669,000 after purchasing an additional 20,165 shares in the last quarter. Finally, Creative Planning grew its position in Melco Resorts & Entertainment by 67.4% in the 2nd quarter. Creative Planning now owns 17,981 shares of the company’s stock valued at $130,000 after purchasing an additional 7,239 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $6.00 on Wednesday. Melco Resorts & Entertainment has a 1 year low of $4.74 and a 1 year high of $10.15. The business’s 50-day moving average is $5.74 and its 200-day moving average is $7.13. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.04 and a beta of 0.61.

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.