Melco Resorts & Entertainment Sees Unusually Large Options Volume (NASDAQ:MLCO)

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) saw an unusually large options trade on Monday. Stock investors bought 32,507 call options on the company. This is an increase of approximately 549% over the average daily volume of 5,005 call options.

Analysts set new price targets

MLCO has been the subject of several analyst reports. Credit Suisse Group downgraded Melco Resorts & Entertainment from an outperform rating to a neutral rating in a report Monday, October 17. Citigroup raised its price target on Melco Resorts & Entertainment to $11.50 from $11.00 and announced the company on Monday 26th upgraded to a sell rating. One research analyst has assigned a sell rating to the stock, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $12.25.

Institutional inflows and outflows

Several institutional investors and hedge funds have recently changed their positions in MLCO. Ronald Blue Trust Inc. acquired a new position in Melco Resorts & Entertainment valued at approximately $30,000 during the second quarter. Quadrant Capital Group LLC increased its stake in Melco Resorts & Entertainment by 103.0% in the second 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 last quarter. Arden Trust Co acquired a new position in Melco Resorts & Entertainment valued at approximately $70,000 during the third quarter. Commonwealth Equity Services LLC acquired a new position in Melco Resorts & Entertainment valued at approximately $78,000 during the first quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Melco Resorts & Entertainment valued at approximately $78,000 during the second quarter. 35.87% of the shares are currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment value for money

NASDAQ:MLCO fell $0.82 during trading hours on Monday to hit $5.36. 291,199 shares of the stock were exchanged compared to an average volume of 4,584,939. Melco Resorts & Entertainment has a 52-week low of $4.06 and a 52-week high of $12.40. The company’s 50-day moving average price is $6.02 and its 200-day moving average price is $5.75. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt to equity ratio of 21.09. The company has a market cap of $2.45 billion, a P/E of -2.93 and a beta of 1.25.

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last announced its earnings results on Thursday, August 18th. The company reported earnings per share of ($0.51) for the quarter, beating the consensus estimate of ($0.52) by $0.01. The company had revenue of $296.11 million for the quarter, compared to analysts’ expectations of $383.51 million. Melco Resorts & Entertainment had a negative return on equity of 106.14% and a negative net margin of 48.76%. As a group, equity analysts expect Melco Resorts & Entertainment to report earnings per share of -1.88 for the current fiscal year.

Company Profile of Melco Resorts & Entertainment

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Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and casino entertainment resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort with 500 gaming tables and 800 slot machines; approx. 1,400 hotel rooms and suites; an approximately 2,000-seat wet stage performance theater; 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.

Selected items

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