Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $9.40

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.40.

Separately, Morgan Stanley reiterated an “equal weight” rating and issued a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th.

Melco Resorts & Entertainment Stock Up 0.5 %

Shares of Melco Resorts & Entertainment stock opened at $6.18 on Tuesday. Melco Resorts & Entertainment has a 12-month low of $4.78 and a 12-month high of $9.56. The firm has a market capitalization of $2.59 billion, a PE ratio of -28.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The stock’s fifty day moving average is $6.57 and its 200-day moving average is $6.51.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of MLCO. Signaturefd LLC boosted its holdings in shares of Melco Resorts & Entertainment by 16.6% during the third quarter. Signaturefd LLC now owns 18,881 shares of the company’s stock worth $147,000 after purchasing an additional 2,686 shares during the period. Creative Planning lifted its position in Melco Resorts & Entertainment by 35.9% in the 3rd quarter. Creative Planning now owns 15,962 shares of the company’s stock worth $124,000 after buying an additional 4,220 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Melco Resorts & Entertainment by 243.4% during the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock valued at $53,000 after buying an additional 5,191 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Melco Resorts & Entertainment by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company’s stock worth $437,000 after acquiring an additional 6,148 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

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.