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

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective cut by Susquehanna from $15.00 to $11.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a positive rating on the stock.

MLCO has been the subject of a number of other reports. Morgan Stanley reissued an equal weight rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. StockNews.com raised Melco Resorts & Entertainment from a sell rating to a hold rating in a report on Friday, April 5th. Three 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.com, Melco Resorts & Entertainment currently has a consensus rating of Moderate Buy and an average target price of $13.82.

Melco Resorts & Entertainment Stock Up 0.8 %

Shares of MLCO stock opened at $6.59 on Monday. The company has a market cap of $2.93 billion, a P/E ratio of -10.46 and a beta of 1.11. The business has a 50 day moving average of $7.18 and a two-hundred day moving average of $7.82. Melco Resorts & Entertainment has a 52 week low of $6.10 and a 52 week high of $13.91.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 55.2% on a year-over-year basis. Analysts expect that Melco Resorts & Entertainment will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TORQ CAPITAL MANAGEMENT HK Ltd increased its position in shares of Melco Resorts & Entertainment by 268.5% during the 4th quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock valued at $16,140,000 after purchasing an additional 1,325,878 shares during the period. Matthews International Capital Management LLC lifted its holdings in shares of Melco Resorts & Entertainment by 247.0% in the third quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock valued at $11,809,000 after buying an additional 849,949 shares during the period. Qube Research & Technologies Ltd boosted its stake in Melco Resorts & Entertainment by 77.1% during the third quarter. Qube Research & Technologies Ltd now owns 411,430 shares of the company’s stock valued at $4,069,000 after buying an additional 179,070 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Melco Resorts & Entertainment by 2.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock worth $1,034,000 after acquiring an additional 2,700 shares during the period. Finally, Barclays PLC raised its position in Melco Resorts & Entertainment by 107.7% in the third quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock worth $18,940,000 after acquiring an additional 992,813 shares in the last quarter. 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.