Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Sunday, The Fly reports.
Other equities analysts have also issued reports about the company. TheStreet upgraded Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research report on Tuesday, November 21st. Daiwa Capital Markets upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday, November 30th. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday, January 4th. BidaskClub upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Nomura raised their price target on Melco Resorts & Entertainment from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Melco Resorts & Entertainment currently has a consensus rating of “Buy” and a consensus target price of $26.46.
Melco Resorts & Entertainment (NASDAQ MLCO) traded down $1.23 on Friday, reaching $28.83. The company had a trading volume of 2,250,000 shares, compared to its average volume of 3,170,000. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. Melco Resorts & Entertainment has a fifty-two week low of $16.00 and a fifty-two week high of $30.49. The company has a market cap of $14,210.00, a price-to-earnings ratio of 45.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.71.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hardman Johnston Global Advisors LLC purchased a new stake in Melco Resorts & Entertainment in the 4th quarter worth approximately $158,130,000. American Century Companies Inc. purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $90,957,000. Nicholas Investment Partners LP purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $84,420,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $70,699,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $70,242,000. Institutional investors and hedge funds own 41.21% of the company’s stock.
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About Melco Resorts & Entertainment
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
