Melco Resorts & Entertainment (NASDAQ:MLCO) Sees Unusually-High Trading Volume

Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) saw unusually-strong trading volume on Wednesday . Approximately 7,902,799 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 4,867,913 shares.The stock last traded at $12.86 and had previously closed at $13.10.

Analysts Set New Price Targets

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

Melco Resorts & Entertainment Trading Down 1.8 %

The firm’s fifty day moving average price is $10.92 and its 200-day moving average price is $7.62. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -7.14 and a beta of 1.10. The company has a debt-to-equity ratio of 21.09, a current ratio of 2.34 and a quick ratio of 2.31.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.04. The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $305.79 million. Melco Resorts & Entertainment had a negative net margin of 56.15% and a negative return on equity of 182.94%. On average, equities analysts expect that Melco Resorts & Entertainment Limited will post -2.05 EPS for the current fiscal year.

Institutional Trading of Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chiron Capital Management LLC boosted its stake in shares of Melco Resorts & Entertainment by 5.3% during the 2nd quarter. Chiron Capital Management LLC now owns 50,100 shares of the company’s stock worth $288,000 after acquiring an additional 2,500 shares in the last quarter. Arden Trust Co acquired a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $70,000. Ovata Capital Management Ltd purchased a new position in shares of Melco Resorts & Entertainment in the second quarter worth approximately $1,020,000. Quadrant Capital Group LLC increased its position in shares of Melco Resorts & Entertainment by 103.0% in the second quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock worth $38,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Melco Resorts & Entertainment by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 76,956 shares of the company’s stock valued at $510,000 after acquiring an additional 14,978 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Company Profile

(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.

See Also

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.