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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get 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% over the average daily volume of 5,552 call options.

Hedge funds bet on Melco Resorts & Entertainment

Institutional investors have recently bought and sold shares of the stock. 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 interest in Melco Resorts & Entertainment valued at approximately $70,000 during the third quarter. Samalin Investment Counsel LLC acquired a new interest in Melco Resorts & Entertainment valued at approximately $77,000 during the third quarter. Finally, during the first quarter, Commonwealth Equity Services LLC acquired a new interest in Melco Resorts & Entertainment for approximately $78,000. Hedge funds and other institutional investors own 35.87% of the company’s shares.

Melco Resorts & Entertainment value for money

NASDAQ:MLCO was up $0.62 on Friday midday to hit $7.19. 165,191 shares of the stock were exchanged compared to an average volume of 5,824,830. The company has a 50-day moving average price of $6.09 and a 200-day moving average price of $5.68. The company has a market cap of $3.28 billion, a P/E 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:MLCO – Get Rating) last announced its earnings results on Thursday, August 18th. The company reported earnings per share (EPS) of $0.51 for the quarter, beating analyst consensus estimates of $0.52 by $0.01. The company 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 Melco Resorts & Entertainment to report earnings per share of -1.99 for the current fiscal year.

Wall Street analysts forecast growth

A number of brokers have recently commented on MLCO. Citigroup raised its price target on Melco Resorts & Entertainment to $11.50 from $11.00 and gave the company a buy rating in a report Monday, September 26. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, October 27. Finally, Credit Suisse Group downgraded 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 with a hold rating and two with a buy rating. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $12.25.

About Melco Resorts & Entertainment

(received rating)

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.

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