Melco Resorts & Entertainment (NASDAQ:MLCO) Hits New 52-Week Low – Should You Sell?

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) shares hit a new 52-week low during trading on Friday . The stock traded as low as $4.74 and last traded at $4.84, with a volume of 7427206 shares. The stock had previously closed at $5.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MLCO shares. Susquehanna cut their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Citigroup lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.24.

Melco Resorts & Entertainment Trading Down 9.8 %

The stock has a 50 day moving average of $5.63 and a 200-day moving average of $6.19. The company has a market capitalization of $2.01 billion, a P/E ratio of -21.82, a P/E/G ratio of 0.63 and a beta of 0.87.

Institutional Trading of Melco Resorts & Entertainment

Several institutional investors and hedge funds have recently modified their holdings of MLCO. GAMMA Investing LLC increased its stake in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after buying an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth about $58,000. Empirical Asset Management LLC bought a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $73,000. Vident Advisory LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $142,000. Finally, Wealthspire Advisors LLC bought a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $145,000. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Company Profile

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.