Melco Resorts & Entertainment (NASDAQ:MLCO) Trading 4.3% Higher

Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Free Report) traded up 4.3% during trading on Thursday . The company traded as high as $8.19 and last traded at $8.19. 1,322,491 shares changed hands during trading, a decline of 60% from the average session volume of 3,332,882 shares. The stock had previously closed at $7.85.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $8.30 to $9.60 in a research report on Monday, May 6th. Citigroup increased their price objective on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Bank of America raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.50 to $10.40 in a report on Wednesday, May 29th. Finally, Susquehanna dropped their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Check Out Our Latest Stock Report on Melco Resorts & Entertainment

Melco Resorts & Entertainment Stock Performance

The firm has a market capitalization of $3.57 billion, a P/E ratio of -18.69, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08. The business has a 50 day simple moving average of $7.50 and a two-hundred day simple moving average of $7.86.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities analysts anticipate that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new position in shares of Melco Resorts & Entertainment during the 1st quarter valued at about $56,000. Pitcairn Co. purchased a new position in shares of Melco Resorts & Entertainment during the 1st quarter valued at about $80,000. FNY Investment Advisers LLC purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $88,000. Finally, Greenleaf Trust purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $92,000. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Company Profile

(Get Free Report)

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.

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