Melco Resorts & Entertainment (MLCO) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a buy rating to a hold rating in a report issued on Thursday.

Several other research analysts have also issued reports on MLCO. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a buy rating to a hold rating in a research report on Tuesday, September 19th. Instinet upgraded shares of Melco Resorts & Entertainment from a neutral rating to a buy rating and lifted their price target for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Nomura upgraded shares of Melco Resorts & Entertainment from a neutral rating to a buy rating and lifted their price target for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Roth Capital started coverage on shares of Melco Resorts & Entertainment in a research report on Wednesday, November 1st. They issued a buy rating and a $34.00 price target on the stock. Finally, TheStreet upgraded shares of Melco Resorts & Entertainment from a c+ rating to a b rating in a research report on Tuesday, November 21st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $26.05.

Melco Resorts & Entertainment (NASDAQ MLCO) traded up $0.18 during trading on Thursday, reaching $27.75. 2,933,400 shares of the company’s stock traded hands, compared to its average volume of 2,700,000. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market capitalization of $13,680.00, a price-to-earnings ratio of 44.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.92. Melco Resorts & Entertainment has a 12-month low of $15.76 and a 12-month high of $29.60.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC purchased a new position in Melco Resorts & Entertainment during the 3rd quarter worth approximately $515,000. Neuberger Berman Group LLC purchased a new position in Melco Resorts & Entertainment during the 3rd quarter worth approximately $1,327,000. California Public Employees Retirement System purchased a new position in Melco Resorts & Entertainment during the 3rd quarter worth approximately $22,357,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in Melco Resorts & Entertainment during the 3rd quarter worth approximately $173,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Melco Resorts & Entertainment during the 3rd quarter worth approximately $3,140,000. Hedge funds and other institutional investors own 41.31% of the company’s stock.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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

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