JP Morgan slashes price target on Melco Resorts & Entertainment Limited [MLCO] – find out why.

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] jumped around 0.07 points on Thursday, while shares priced at $11.64 at the close of the session, up 0.61%. The company report on March 8, 2023 that Melco Announces Privately-Negotiated Share Repurchase.

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Entry into the share repurchase agreement in respect of the Transaction was unanimously approved by the disinterested members of the Audit and Risk Committee of the Company. The Audit and Risk Committee engaged independent financial and legal advisors to assist in its evaluation process.

Melco Resorts & Entertainment Limited stock is now 1.22% up from its year-to-date (YTD) trading value. MLCO Stock saw the intraday high of $11.785 and lowest of $11.32 per share. The company’s 52-week high price is 14.24, which means current price is +3.28% above from all time high which was touched on 01/27/23.

Compared to the average trading volume of 4.02M shares, MLCO reached a trading volume of 2880870 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Melco Resorts & Entertainment Limited [MLCO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLCO shares is $13.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLCO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Melco Resorts & Entertainment Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 28, 2022. The new note on the price target was released on October 18, 2022, representing the official price target for Melco Resorts & Entertainment Limited stock. On May 06, 2022, analysts decreased their price target for MLCO shares from 7.84 to 7.73.

The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.58, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 3.56.

How has MLCO stock performed recently?

Melco Resorts & Entertainment Limited [MLCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.25. With this latest performance, MLCO shares dropped by -13.33% in over the last four-week period, additionally plugging by 109.73% over the last 6 months – not to mention a rise of 78.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MLCO stock in for the last two-week period is set at 37.04, with the RSI for the last a single of trading hit 30.95, and the three-weeks RSI is set at 41.90 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 13.05, while it was recorded at 12.00 for the last single week of trading, and 8.28 for the last 200 days.

Melco Resorts & Entertainment Limited [MLCO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Melco Resorts & Entertainment Limited [MLCO] shares currently have an operating margin of -50.93 and a Gross Margin at -17.44. Melco Resorts & Entertainment Limited’s Net Margin is presently recorded at -68.93.

Melco Resorts & Entertainment Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Earnings analysis for Melco Resorts & Entertainment Limited [MLCO]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MLCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Melco Resorts & Entertainment Limited go to 8.00%.

Insider trade positions for Melco Resorts & Entertainment Limited [MLCO]

There are presently around $2,160 million, or 43.40% of MLCO stock, in the hands of institutional investors. The top three institutional holders of MLCO stocks are: ARGA INVESTMENT MANAGEMENT, LP with ownership of 28,758,479, which is approximately -2.746% of the company’s market cap and around 33.50% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 24,267,830 shares of the stock with an approximate value of $282.48 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $181.96 million in MLCO stock with ownership of nearly -18.586% of the company’s market capitalization.

Positions in Melco Resorts & Entertainment Limited stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 97 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 41,973,611 shares. Additionally, 102 investors decreased positions by around 34,677,089 shares, while 24 investors held positions by with 108,891,872 shares. The mentioned changes placed institutional holdings at 185,542,572 shares, according to the latest SEC report filing. MLCO stock had 43 new institutional investments in for a total of 9,058,855 shares, while 32 institutional investors sold positions of 5,870,047 shares during the same period.


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