Melco Resorts & Entertainment (NASDAQ:MLCO) Cut to Sell at UBS Group

UBS Group cut shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a buy rating to a sell rating in a report published on Thursday morning, Marketbeat Ratings reports. UBS Group currently has $3.70 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Capital One Financial set a $5.50 price objective on shares of Melco Resorts & Entertainment in a research report on Friday, October 16th. CICC Research lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a report on Sunday, October 18th. Piper Sandler set a $5.50 price target on shares of Melco Resorts & Entertainment in a research report on Friday, October 16th. Texas Capital downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, October 16th. Finally, Susquehanna lowered Melco Resorts & Entertainment from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $4.00 in a research report on Thursday, November 5th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $5.72.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO traded up $0.10 during mid-day trading on Thursday, hitting $4.28. 2,143,483 shares of the stock were exchanged, compared to its average volume of 2,271,279. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 3.92 and a beta of 0.49. The firm’s 50-day simple moving average is $4.39 and its 200 day simple moving average is $5.30. Melco Resorts & Entertainment has a fifty-two week low of $3.67 and a fifty-two week high of $9.53.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Melco Resorts & Entertainment had a negative return on equity of 14.47% and a net margin of 3.15%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. Melco Resorts & Entertainment’s revenue was down 10.4% on a year-over-year basis. On average, analysts predict that Melco Resorts & Entertainment will post 0.34 EPS for the current fiscal year.

Institutional Trading of Melco Resorts & Entertainment

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in shares of Melco Resorts & Entertainment by 1,370.8% during the 1st 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Melco Resorts & Entertainment by 71.5% during the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock valued at $40,000 after acquiring an additional 3,155 shares in the last quarter. Leo Wealth LLC bought a new position in Melco Resorts & Entertainment in the 3rd quarter worth $54,000. Drive Wealth Management LLC purchased a new stake in Melco Resorts & Entertainment in the third quarter worth about $55,000. Finally, Signaturefd LLC boosted its position in shares of Melco Resorts & Entertainment by 30.4% during the third quarter. Signaturefd LLC now owns 15,108 shares of the company’s stock valued at $68,000 after purchasing an additional 3,526 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment develops, owns and operates integrated resorts that combine casino gaming with hotels, dining, retail, entertainment and convention facilities. Its properties include City of Dreams, Studio City and Altira Macau, as well as City of Dreams Manila in the Philippines. The company has also developed and operated resort and casino facilities in Cyprus, extending its business beyond its core Macau and Philippine markets. Its offerings are designed to serve both gaming customers and visitors seeking hospitality and entertainment experiences.