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Melco Resorts & Entertainment Target of Unusually Large Options Trading (NASDAQ:MLCO)


Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) was the recipient of some unusual options trading on Friday. Stock investors bought 26,418 call options on the company. This is an increase of approximately 376% compared to the average daily volume of 5,552 call options.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Institutional investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. purchased a new position in Melco Resorts & Entertainment in the 2nd quarter worth about $30,000. Quadrant Capital Group LLC lifted its holdings in shares of Melco Resorts & Entertainment by 103.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock valued at $38,000 after buying an additional 3,380 shares during the last quarter. Arden Trust Co acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $70,000. Samalin Investment Counsel LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $77,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO traded up $0.62 during mid-day trading on Friday, reaching $7.19. 165,191 shares of the stock were exchanged, compared to its average volume of 5,824,830. The business has a fifty day moving average price of $6.09 and a 200 day moving average price of $5.68. The firm has a market capitalization of $3.28 billion, a PE ratio of -4.04 and a beta of 1.14. Melco Resorts & Entertainment has a 1-year low of $4.06 and a 1-year high of $12.40. The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 21.09.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last released its earnings results on Thursday, August 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The firm had revenue of $296.11 million for the quarter, compared to analyst estimates of $383.51 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. Research analysts expect that Melco Resorts & Entertainment will post -1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MLCO. Citigroup increased their price target on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a “buy” rating in a report on Monday, September 26th. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, October 27th. Finally, Credit Suisse Group cut Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a research note on Monday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.25.

About Melco Resorts & Entertainment

(Get Rating)

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.

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