Susquehanna Has Lowered Expectations for Melco Resorts & Entertainment (NASDAQ:MLCO) Stock Price

Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price cut by Susquehanna from $10.00 to $9.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a positive rating on the stock.

Separately, Morgan Stanley restated an “equal weight” rating and issued a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $5.33 on Monday. Melco Resorts & Entertainment has a 1 year low of $4.78 and a 1 year high of $9.39. The firm’s 50-day moving average is $5.97 and its 200-day moving average is $6.15. The company has a market cap of $2.24 billion, a P/E ratio of -24.23, a PEG ratio of 0.61 and a beta of 1.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLCO. Cetera Investment Advisers increased its stake in shares of Melco Resorts & Entertainment by 5.3% in the second quarter. Cetera Investment Advisers now owns 169,277 shares of the company’s stock valued at $1,263,000 after purchasing an additional 8,507 shares during the period. Creative Planning increased its position in Melco Resorts & Entertainment by 35.9% in the 3rd quarter. Creative Planning now owns 15,962 shares of the company’s stock valued at $124,000 after acquiring an additional 4,220 shares during the period. Signaturefd LLC increased its position in Melco Resorts & Entertainment by 16.6% in the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock valued at $147,000 after acquiring an additional 2,686 shares during the period. Leo Wealth LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter worth $93,000. Finally, Ballentine Partners LLC bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth $81,000. 39.62% of the stock is owned by institutional investors and hedge funds.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.