Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned a consensus recommendation of “Buy” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $28.12.
A number of research firms have weighed in on MLCO. Nomura increased their price target on shares of Melco Resorts & Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday. Wolfe Research downgraded shares of Walmart from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday. Finally, Macquarie began coverage on shares of Wynn Macau in a research note on Monday, April 8th. They set an “outperform” rating on the stock.
Shares of MLCO traded down $0.04 on Tuesday, hitting $24.42. 864,472 shares of the stock traded hands, compared to its average volume of 1,385,827. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.51. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.25 and a beta of 1.77. The firm has a 50 day moving average price of $21.71. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $26.97.
Several institutional investors have recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC increased its position in shares of Melco Resorts & Entertainment by 17.4% in the second quarter. Gateway Investment Advisers LLC now owns 101,824 shares of the company’s stock worth $2,212,000 after acquiring an additional 15,082 shares in the last quarter. OLD National Bancorp IN acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter valued at $236,000. Campbell & CO Investment Adviser LLC acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter valued at $740,000. Amundi Pioneer Asset Management Inc. grew its holdings in Melco Resorts & Entertainment by 4.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 232,975 shares of the company’s stock valued at $5,263,000 after purchasing an additional 10,046 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in Melco Resorts & Entertainment by 18.7% during the 1st quarter. MetLife Investment Advisors LLC now owns 23,500 shares of the company’s stock valued at $531,000 after purchasing an additional 3,700 shares in the last quarter. 33.31% of the stock is owned by institutional investors.
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.
Recommended Story: Investing strategies using the yield curve
Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.