Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Lowered to $11.00 at Susquehanna

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective reduced by Susquehanna from $15.00 to $11.00 in a report issued on Monday, Benzinga reports. They currently have a positive rating on the stock.

Other equities analysts have also issued research reports about the company. StockNews.com raised Melco Resorts & Entertainment from a sell rating to a hold rating in a research report on Friday, April 5th. Morgan Stanley reissued an equal weight rating and set a $9.60 price objective on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Melco Resorts & Entertainment has a consensus rating of Moderate Buy and a consensus target price of $13.78.

Melco Resorts & Entertainment Trading Up 3.8 %

NASDAQ:MLCO opened at $6.58 on Monday. The firm’s fifty day simple moving average is $7.22 and its 200 day simple moving average is $7.84. Melco Resorts & Entertainment has a twelve month low of $6.10 and a twelve month high of $14.00.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.14 billion. The business’s quarterly revenue 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. On average, analysts expect that Melco Resorts & Entertainment will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several large investors have recently modified their holdings of the stock. Simplicity Wealth LLC purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth about $1,911,000. ARGA Investment Management LP raised its position in shares of Melco Resorts & Entertainment by 6.1% in the 1st quarter. ARGA Investment Management LP now owns 29,336,228 shares of the company’s stock worth $211,514,000 after purchasing an additional 1,695,442 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Melco Resorts & Entertainment by 7.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 252,738 shares of the company’s stock worth $2,242,000 after purchasing an additional 17,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Melco Resorts & Entertainment by 72.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,150,100 shares of the company’s stock worth $10,201,000 after purchasing an additional 482,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Melco Resorts & Entertainment by 6.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,715,440 shares of the company’s stock worth $50,696,000 after purchasing an additional 366,031 shares during the last quarter. Hedge funds and other institutional investors 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.