Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Consensus Recommendation of “Hold” from Brokerages

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.4667.

Several equities analysts have recently commented on MLCO shares. CLSA downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “hold” rating and set a $6.10 price objective for the company. in a research note on Friday, June 5th. Morgan Stanley downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, CICC Research raised shares of Melco Resorts & Entertainment to an “outperform” rating in a research note on Sunday, April 19th.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in 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 in the last quarter. Kestra Advisory Services LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter worth about $48,000. Hilton Head Capital Partners LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter worth about $63,000. U S Global Investors Inc. bought a new position in Melco Resorts & Entertainment in the first quarter worth about $68,000. Finally, Quarry LP bought a new position in Melco Resorts & Entertainment in the third quarter worth about $68,000. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Trading Up 0.3%

Shares of NASDAQ:MLCO opened at $5.38 on Monday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 3.35 and a beta of 0.58. The company has a 50-day moving average price of $5.57 and a 200-day moving average price of $6.10. Melco Resorts & Entertainment has a 12 month low of $5.07 and a 12 month high of $10.15.

About Melco Resorts & Entertainment

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.