Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Price Target at $9.40

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $9.40.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $7.50 price target (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MLCO. Signaturefd LLC raised its stake in Melco Resorts & Entertainment by 16.6% during the third quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock worth $147,000 after buying an additional 2,686 shares during the last quarter. Creative Planning raised its position in shares of Melco Resorts & Entertainment by 35.9% in the 3rd quarter. Creative Planning now owns 15,962 shares of the company’s stock worth $124,000 after acquiring an additional 4,220 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after purchasing an additional 4,403 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Melco Resorts & Entertainment by 12.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock valued at $437,000 after purchasing an additional 6,148 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Melco Resorts & Entertainment during the second quarter worth approximately $56,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 1.7 %

NASDAQ:MLCO opened at $5.54 on Friday. The stock’s 50-day moving average is $6.09 and its 200-day moving average is $6.25. The stock has a market cap of $2.33 billion, a P/E ratio of -25.18, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. Melco Resorts & Entertainment has a 1-year low of $4.78 and a 1-year high of $9.39.

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.