Melco Resorts & Entertainment (NASDAQ:MLCO) Raised to Buy at Wall Street Zen

Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued reports about the company. Texas Capital raised Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Monday, February 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Thursday, January 22nd. Finally, CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.06.

Melco Resorts & Entertainment Stock Down 0.5%

Shares of NASDAQ MLCO opened at $5.63 on Friday. The business has a fifty day simple moving average of $5.72 and a two-hundred day simple moving average of $7.03. The firm has a market cap of $2.29 billion, a PE ratio of 12.24 and a beta of 0.61. Melco Resorts & Entertainment has a twelve month low of $4.90 and a twelve month high of $10.15.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth $48,000. Hilton Head Capital Partners LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth $63,000. Quarry LP bought a new position in shares of Melco Resorts & Entertainment in the 3rd quarter worth $68,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Melco Resorts & Entertainment in the 2nd quarter worth $71,000. Finally, Global Retirement Partners LLC raised its position 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 worth $79,000 after acquiring an additional 8,507 shares in the last quarter. 39.62% of the stock is owned by institutional investors.

About Melco Resorts & Entertainment

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.