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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.40.

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

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several large investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in Melco Resorts & Entertainment in the 2nd quarter valued at approximately $42,000. Blue Trust Inc. grew its stake in shares of Melco Resorts & Entertainment by 243.4% in the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after acquiring an additional 5,191 shares during the last quarter. Headlands Technologies LLC bought a new position in Melco Resorts & Entertainment during the second quarter worth $56,000. Ballentine Partners LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at $81,000. Finally, Leo Wealth LLC bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $93,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO opened at $6.18 on Tuesday. The firm has a market cap of $2.59 billion, a PE ratio of -28.09, a PEG ratio of 0.98 and a beta of 1.05. Melco Resorts & Entertainment has a twelve month low of $4.78 and a twelve month high of $9.56. The firm’s 50 day moving average price is $6.57 and its 200 day moving average price is $6.51.

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.