Melco Resorts & Entertainment Limited (NASDAQ: MLCO – Get Rating) had unusually large options trading on Friday. A stock trader acquired his 52,670 call options on the company. This represents an increase of about 281% compared to his average daily volume of 13,841 call options.
Wall Street analyst opinion
MLCO has been the subject of several analyst reports. StockNews.com upgraded Melco Resorts & Entertainment stock to a sell rating in a research report on Thursday, December 1. Credit Suisse Group downgraded Melco Resorts & Entertainment from ‘Outperforming’ to ‘Neutral’ in its research notes on Monday, October 17. Citigroup raised its price target on Melco Resorts & Entertainment from $11.00 to $11.50, giving it a Buy rating in its research notes on Monday, September 26. Finally, JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment’s stock from ‘Neutral’ to ‘Overweight’ and raised its price target from $7.00 to $10.00 in a report on Monday, November 28. I was. One equity research analyst rated the stock as sell, two gave hold ratings, and two issued buy ratings. According to MarketBeat, Melco Resorts & Entertainment currently has an average rating of “hold” and a consensus target price of $10.75.
Melco Resorts & Entertainment Price Performance
Shares of Melco Resorts & Entertainment opened at $11.50 on Friday. The company has a market capitalization of $5.12 billion, a PE ratio of -6.42 and a beta of 1.28. His 50-day moving average for this business is $8.52 and his 200-day moving average is $6.73. Melco Resorts & Entertainment has a 52-week low of $4.06 and a 52-week high of $12.35. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt to equity ratio of 21.09.
Melco Resorts & Entertainment (NASDAQ: MLCO – Get Rating) announced final results on Wednesday, November 2nd. The company reported his earnings per share ($0.52) for the quarter, beating analyst consensus expectations ($0.56) by $0.04. Melco Resorts & Entertainment had a net profit margin of 56.15% and a return on equity of 182.94%. The company’s revenue for the quarter was $241.84 million, compared with analyst estimates of $305.79 million. For the group as a whole, equity research analysts expect Melco Resorts & Entertainment to post earnings per share of minus 2.05 for the current year.
institution inflow and outflow
Many institutional investors and hedge funds have recently changed their positions in MLCOs. Toroso Investments LLC increased his stake in Melco Resorts & Entertainment shares by 29.0% in the third quarter. Toroso Investments LLC now owns 27,304 shares worth $181,000 after purchasing an additional 6,139 of his shares last quarter. Integrated Investment Consultants LLC increased his position in Melco Resorts & Entertainment stock by 6.0% in the third quarter. Integrated Investment Consultants LLC now owns 44,780 shares of the company worth $297,000 after he purchased an additional 2,530 shares during the previous quarter. California State Teachers Retirement System increased its position in Melco Resorts & Entertainment by 10.3% in the third quarter. California State Teachers Retirement System now owns 234,438 shares worth $1,554,000 after purchasing an additional 21,863 shares last quarter. Arbor Capital Management Inc. ADV increased its stake in Melco Resorts & Entertainment by 33.1% in the third quarter. Arbor Capital Management Inc. ADV now owns 107,878 shares worth $814,000 after purchasing an additional 26,846 shares in the previous quarter. Finally, BNP Paribas Arbitrage SNC increased its holding in Melco Resorts & Entertainment by 58.7% in the third quarter. BNP Paribas Arbitrage SNC now owns 234,162 shares of the company worth $1,552,000 after purchasing an additional 86,639 shares during the previous quarter. Hedge funds and other institutional investors own 39.70% of the company’s shares.
About Melco Resorts & Entertainment
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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 with 500 gaming tables and 800 gaming machines. Approximately 1,400 hotel rooms and suites. A wet stage performance theater with approximately 2,000 seats. About 30 restaurants and bars, and 150 retail stores. Recreational and leisure facilities such as health clubs, fitness clubs, swimming pools, spas, salons, banquet and conference facilities.
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