Melco Resorts & Entertainment (NASDAQ:MLCO) Given New $14.00 Price Target at Citigroup

Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price hoisted by Citigroup from $13.75 to $14.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Susquehanna cut their target price on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a positive rating on the stock in a research report on Monday. StockNews.com raised shares of Melco Resorts & Entertainment from a sell rating to a hold rating in a research report on Friday, April 5th. Finally, Morgan Stanley reissued an equal weight rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $13.82.

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $6.59 on Wednesday. The firm has a 50-day moving average price of $7.18 and a 200-day moving average price of $7.82. Melco Resorts & Entertainment has a 12-month low of $6.10 and a 12-month high of $13.91.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 8.00%. The business’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. As a group, analysts predict that Melco Resorts & Entertainment will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors have recently modified their holdings of the company. TORQ CAPITAL MANAGEMENT HK Ltd boosted its holdings in shares of Melco Resorts & Entertainment by 268.5% in the 4th quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock valued at $16,140,000 after buying an additional 1,325,878 shares in the last quarter. Matthews International Capital Management LLC boosted its stake in Melco Resorts & Entertainment by 247.0% in the 3rd quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock worth $11,809,000 after purchasing an additional 849,949 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Melco Resorts & Entertainment by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 411,430 shares of the company’s stock worth $4,069,000 after purchasing an additional 179,070 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Melco Resorts & Entertainment by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock worth $1,034,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Barclays PLC boosted its stake in Melco Resorts & Entertainment by 107.7% in the 3rd quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock worth $18,940,000 after purchasing an additional 992,813 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.

About Melco Resorts & Entertainment

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.