Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
A number of other analysts also recently commented on the stock. Credit Suisse Group upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $18.20 in a report on Tuesday, June 20th. Bank of America downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Macquarie assumed coverage on shares of Melco Resorts & Entertainment in a report on Tuesday, July 18th. They issued an “outperform” rating and a $16.30 price objective for the company. Finally, VNET Group reiterated a “downgrade” rating on shares of Melco Resorts & Entertainment in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and a consensus target price of $14.00.
Read Our Latest Research Report on MLCO
Melco Resorts & Entertainment Trading Up 1.7 %
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.12. The company had revenue of $947.94 million during the quarter, compared to the consensus estimate of $881.75 million. Melco Resorts & Entertainment had a negative net margin of 26.77% and a negative return on equity of 559.31%. On average, sell-side analysts predict that Melco Resorts & Entertainment will post -0.3 EPS for the current fiscal year.
Institutional Trading of Melco Resorts & Entertainment
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $90,000. Capstone Investment Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the 1st quarter valued at approximately $228,000. Solstein Capital LLC increased its holdings in Melco Resorts & Entertainment by 10.5% in the 1st quarter. Solstein Capital LLC now owns 138,639 shares of the company’s stock valued at $1,765,000 after purchasing an additional 13,143 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Melco Resorts & Entertainment by 124.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 49,135 shares of the company’s stock valued at $625,000 after purchasing an additional 27,195 shares during the last quarter. Finally, Primoris Wealth Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the 1st quarter valued at approximately $3,305,000. Institutional investors and hedge funds own 39.82% 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.
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