Melco Resorts & Entertainment Inc (NASDAQ:MLCO) Raised to “Sell” on StockNews.com

Melco Resorts & Entertainment (NASDAQ: MLCO – Get a Rating) was upgraded by investment analysts StockNews.com to a “sell” rating in a report released Thursday.

Separately, Citigroup cut its price target on shares of Melco Resorts & Entertainment from $12.50 to $11.00 and set a “buy” rating on the stock in a Tuesday, July 5 report. One equity research analyst rated the stock with a sell rating, two gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of “Hold” and an average target price of $11.33.

Melco Resorts & Entertainment trades up 5.0%

Shares of NASDAQ MLCO were up $0.28 in Thursday’s midday session, hitting $5.83. The stock recorded a trading volume of 4,826,904 shares, compared to an average volume of 4,255,018. The company has a market capitalization of $2.76 billion, a P/E ratio of -3.33 and a beta of 1.45. Melco Resorts & Entertainment has a fifty-two week minimum of $4.06 and a fifty-two week maximum of $12.40. The company has a debt ratio of 21.09, a current ratio of 2.36 and a quick ratio of 2.33. The company’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $6.07.

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Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last reported quarterly earnings data on Thursday, August 18. The company reported ($0.51) EPS for the quarter, beating analyst consensus estimates of ($0.52) by $0.01. Melco Resorts & Entertainment recorded a negative return on equity of 106.14% and a negative net margin of 48.76%. The company posted revenue of $296.11 million in the quarter, versus analyst estimates of $383.51 million. Research analysts expect Melco Resorts & Entertainment to post -1.88 EPS for the current year.

Hedge funds weigh on Melco Resorts & Entertainment

Several institutional investors have recently changed their stake in MLCO. New York State Common Retirement Fund increased its stake in Melco Resorts & Entertainment by 8.9% in the 1st quarter. The New York State Common Retirement Fund now owns 973,741 shares of the company worth $7,439,000 after acquiring an additional 79,883 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Melco Resorts & Entertainment by 641.4% during the first quarter. Panagora Asset Management Inc. now owns 361,950 shares of the company worth $2,765,000 after purchasing an additional 313,131 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Melco Resorts & Entertainment in Q1 worth $78,000. Connor Clark & ​​Lunn Investment Management Ltd. purchased a new equity stake in Melco Resorts & Entertainment in Q1 valued at $2,851,000. Finally, Capital World Investors increased its stake in Melco Resorts & Entertainment by 4.9% during the 4th quarter. Capital World Investors now owns 22,089,735 shares of the company worth $224,874,000 after purchasing an additional 1,036,962 shares during the period. 35.87% of the shares are currently held by institutional investors and hedge funds.

Company Profile Melco Resorts & Entertainment

(Get an assessment)

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and entertainment facilities in Asia. It owns and operates City of Dreams, an integrated casino complex that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage auditorium 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, spas and salons, as well as banquet and meeting facilities.

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Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ: MLCO)

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