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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) was the recipient of unusually large options trading on Tuesday. Traders acquired 76,990 call options on the stock. This is an increase of approximately 291% compared to the average volume of 19,695 call options.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $25,000. Ronald Blue Trust Inc. bought a new stake in Melco Resorts & Entertainment in the 2nd quarter valued at $30,000. Quadrant Capital Group LLC boosted its stake in Melco Resorts & Entertainment by 103.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock valued at $38,000 after purchasing an additional 3,380 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at $70,000. Finally, Arden Trust Co bought a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter valued at $70,000. 39.70% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Down 2.6 %

MLCO stock opened at $13.10 on Wednesday. The business’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $7.62. The firm has a market capitalization of $5.83 billion, a PE ratio of -7.32 and a beta of 1.10. Melco Resorts & Entertainment has a 1-year low of $4.06 and a 1-year high of $14.15. 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:MLCO – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.04. The business had revenue of $241.84 million during the quarter, compared to the consensus estimate of $305.79 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. As a group, research analysts anticipate that Melco Resorts & Entertainment will post -2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Credit Suisse Group lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, October 17th. StockNews.com raised Melco Resorts & Entertainment to a “sell” rating in a report on Thursday, December 1st. Finally, JPMorgan Chase & Co. raised Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $7.00 to $10.00 in a report on Monday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.75.

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 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.