Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Cut to $9.00 by Analysts at Susquehanna

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price target decreased by research analysts at Susquehanna from $10.00 to $9.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 56.93% from the company’s previous close.

Separately, Morgan Stanley reissued an “equal weight” rating and set a $7.50 target price (down previously from $9.60) on shares of Melco Resorts & Entertainment in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Melco Resorts & Entertainment Price Performance

MLCO stock traded down $0.18 during midday trading on Monday, reaching $5.74. 1,608,297 shares of the company were exchanged, compared to its average volume of 3,779,142. The business has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $6.16. Melco Resorts & Entertainment has a one year low of $4.78 and a one year high of $9.39. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -26.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP raised its stake in Melco Resorts & Entertainment by 1.6% in the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after purchasing an additional 456,117 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in Melco Resorts & Entertainment by 15.0% in the third quarter. Coronation Fund Managers Ltd. now owns 13,072,483 shares of the company’s stock valued at $101,835,000 after acquiring an additional 1,705,872 shares during the last quarter. BNP Paribas Financial Markets grew its position in Melco Resorts & Entertainment by 57.3% in the third quarter. BNP Paribas Financial Markets now owns 655,572 shares of the company’s stock valued at $5,107,000 after acquiring an additional 238,884 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Melco Resorts & Entertainment by 88.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 380,372 shares of the company’s stock valued at $2,963,000 after acquiring an additional 178,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Melco Resorts & Entertainment by 124.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 239,868 shares of the company’s stock valued at $1,869,000 after acquiring an additional 133,086 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.