Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.6667.

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

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in Melco Resorts & Entertainment during the 4th quarter worth approximately $48,000. Hilton Head Capital Partners LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $63,000. Solstein Capital LLC boosted its stake in shares of Melco Resorts & Entertainment by 74.9% in the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock worth $68,000 after buying an additional 4,000 shares during the last quarter. Quarry LP purchased a new position in Melco Resorts & Entertainment in the third quarter worth $68,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Melco Resorts & Entertainment during the second quarter valued at about $71,000. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Trading Down 3.8%

Shares of NASDAQ:MLCO opened at $5.83 on Tuesday. The firm has a 50 day moving average of $6.70 and a 200-day moving average of $8.13. Melco Resorts & Entertainment has a 12 month low of $4.55 and a 12 month high of $10.15. The stock has a market capitalization of $2.28 billion, a PE ratio of 12.67 and a beta of 0.63.

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.