Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.6750.

Several analysts have recently commented on the company. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Monday, February 16th. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, CICC Research raised Melco Resorts & Entertainment to an “outperform” rating in a research report on Sunday, April 19th.

Melco Resorts & Entertainment Stock Up 0.5%

Shares of NASDAQ MLCO opened at $5.78 on Thursday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 3.18 and a beta of 0.58. The stock’s fifty day simple moving average is $5.62 and its 200 day simple moving average is $6.50. 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

A number of institutional investors have recently bought and sold shares of MLCO. Parallel Advisors LLC lifted its position in shares of Melco Resorts & Entertainment by 1,370.8% in the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after buying an additional 4,702 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth about $48,000. Quarry LP bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $68,000. Hilton Head Capital Partners LLC bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth about $63,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth about $71,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.