Analysts Are Downgrading These 5 Stocks

4. Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Number of Hedge Fund Holders: 29  

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is a Hong Kong-based firm that owns and operates casino gaming and resort facilities. It is placed fourth on our list of 10 stocks that analysts are downgrading.

On September 16, investment advisory JPMorgan downgraded Melco Resorts & Entertainment Limited (NASDAQ:MLCO) stock to Neutral from Overweight and decreased the price target to $10 from $21, highlighting the tightening regulatory oversight on Macau firms.  

At the end of the second quarter of 2021, 29 hedge funds in the database of Insider Monkey held stakes worth $755 million in Melco Resorts & Entertainment Limited (NASDAQ:MLCO), the same as in the preceding quarter worth $728 million.