Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.2667.

MLCO has been the subject of several recent research reports. Morgan Stanley downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Tuesday, August 18th. CLSA upgraded shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and lowered their price target for the company from $6.10 to $6.00 in a research report on Friday, July 10th. Citigroup dropped their price objective on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, Susquehanna set a $7.00 price objective on Melco Resorts & Entertainment in a research report on Friday, August 14th.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $5.05 on Friday. The stock has a fifty day moving average price of $5.40 and a two-hundred day moving average price of $5.53. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 3.80 and a beta of 0.58. Melco Resorts & Entertainment has a 1 year low of $4.93 and a 1 year high of $9.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Melco Resorts & Entertainment had a negative return on equity of 23.81% and a net margin of 4.50%.The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company earned $0.04 EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Melco Resorts & Entertainment will post 0.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake 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 valued at $29,000 after purchasing an additional 4,702 shares during the period. GAMMA Investing LLC lifted its holdings in Melco Resorts & Entertainment by 71.5% in the 2nd quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock worth $40,000 after buying an additional 3,155 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Melco Resorts & Entertainment in the 4th quarter worth $48,000. Hilton Head Capital Partners LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at about $63,000. Finally, U S Global Investors Inc. purchased a new position in Melco Resorts & Entertainment in the 1st quarter valued at about $68,000. 39.62% of the stock is owned by institutional investors and hedge funds.

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.