Melco Resorts & Entertainment (NASDAQ:MLCO) Rating Lowered to Hold at Wall Street Zen

Melco Resorts & Entertainment (NASDAQ:MLCO) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on MLCO. UBS Group upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Monday, February 16th. CICC Research upgraded Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.68.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ MLCO opened at $5.56 on Friday. The stock has a market cap of $2.16 billion, a PE ratio of 9.59, a PEG ratio of 3.07 and a beta of 0.60. The business has a fifty day moving average of $5.60 and a two-hundred day moving average of $6.59. Melco Resorts & Entertainment has a 52-week low of $5.18 and a 52-week high of $10.15.

Institutional Trading of Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 8.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock valued at $123,000 after purchasing an additional 1,295 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in Melco Resorts & Entertainment by 15.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock valued at $98,000 after acquiring an additional 1,819 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in Melco Resorts & Entertainment by 5.1% in the 4th quarter. Fox Run Management L.L.C. now owns 46,211 shares of the company’s stock valued at $350,000 after acquiring an additional 2,256 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Melco Resorts & Entertainment by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock valued at $2,380,000 after acquiring an additional 2,442 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Melco Resorts & Entertainment by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 69,325 shares of the company’s stock worth $525,000 after purchasing an additional 2,444 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Company Profile

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.