Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Rating of “Hold” by Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.40.

Several research firms recently issued reports on MLCO. JPMorgan Chase & Co. increased their target price on Melco Resorts & Entertainment from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Zacks Research lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock worth $39,748,000 after acquiring an additional 5,211,263 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $35,665,000. National Bank of Canada FI lifted its position in shares of Melco Resorts & Entertainment by 71,281.5% during the 3rd quarter. National Bank of Canada FI now owns 2,206,402 shares of the company’s stock worth $20,233,000 after purchasing an additional 2,203,311 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Melco Resorts & Entertainment by 526.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,537,034 shares of the company’s stock worth $11,113,000 after purchasing an additional 1,291,495 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of Melco Resorts & Entertainment during the third quarter worth $11,095,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $6.65 on Monday. The company’s 50 day simple moving average is $8.31 and its 200-day simple moving average is $8.67. Melco Resorts & Entertainment has a 1 year low of $4.55 and a 1 year high of $10.15. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 25.58 and a beta of 0.66.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.10. Melco Resorts & Entertainment had a net margin of 2.06% and a negative return on equity of 23.00%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts expect that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.

Melco Resorts & Entertainment Company Profile

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.