Melco Resorts & Entertainment (NASDAQ:MLCO) Sets New 52-Week Low at $6.29

Melco Resorts & Entertainment Limited (NASDAQ:MLCO)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $6.29 and last traded at $6.31, with a volume of 1454825 shares. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MLCO shares. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $9.60 price objective on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.78.

Melco Resorts & Entertainment Stock Down 1.3 %

The stock has a fifty day simple moving average of $7.54 and a two-hundred day simple moving average of $7.97.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, February 29th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. The company’s revenue for the quarter was up 224.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) EPS. Equities research analysts expect that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $37,000. Sunbelt Securities Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at $57,000. Penserra Capital Management LLC boosted its holdings in shares of Melco Resorts & Entertainment by 49.8% during the 4th quarter. Penserra Capital Management LLC now owns 5,754 shares of the company’s stock valued at $66,000 after acquiring an additional 1,914 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at $70,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $88,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

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.