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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) saw some unusual options trading activity on Tuesday. Stock investors bought 7,716 call options on the stock. This is an increase of approximately 100% compared to the typical volume of 3,858 call options.

MLCO has been the subject of several recent research reports. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. Credit Suisse Group cut shares of Melco Resorts & Entertainment from a “neutral” rating to an “underperform” rating and set a $14.00 price target for the company. in a research report on Tuesday, January 19th. TheStreet raised shares of Melco Resorts & Entertainment from a “d” rating to a “c-” rating in a research report on Monday, March 8th. CLSA raised shares of Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Thursday, February 25th. Finally, Macquarie cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Thursday, January 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.23.

Shares of MLCO opened at $20.68 on Thursday. Melco Resorts & Entertainment has a 1-year low of $12.04 and a 1-year high of $23.65. The stock has a market cap of $9.86 billion, a PE ratio of -9.89, a price-to-earnings-growth ratio of 135.39 and a beta of 1.76. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.69 and a quick ratio of 1.66. The firm has a fifty day moving average price of $20.66 and a 200 day moving average price of $18.13.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, February 25th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.20. The firm had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $526.82 million. Melco Resorts & Entertainment had a negative net margin of 37.56% and a negative return on equity of 45.84%. As a group, equities analysts expect that Melco Resorts & Entertainment will post -2.7 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MLCO. Hardman Johnston Global Advisors LLC increased its stake in Melco Resorts & Entertainment by 30.5% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 18,327,048 shares of the company’s stock valued at $339,966,000 after purchasing an additional 4,278,219 shares during the period. ARGA Investment Management LP acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at $54,971,000. Point72 Asset Management L.P. increased its stake in Melco Resorts & Entertainment by 1,707.6% in the third quarter. Point72 Asset Management L.P. now owns 2,604,709 shares of the company’s stock valued at $43,368,000 after purchasing an additional 2,460,609 shares during the period. King Street Capital Management L.P. increased its stake in Melco Resorts & Entertainment by 107.4% in the third quarter. King Street Capital Management L.P. now owns 4,700,000 shares of the company’s stock valued at $78,255,000 after purchasing an additional 2,433,875 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Melco Resorts & Entertainment by 63.0% in the third quarter. Nuveen Asset Management LLC now owns 5,573,279 shares of the company’s stock valued at $92,795,000 after purchasing an additional 2,154,014 shares during the period. Institutional investors own 41.69% of the company’s stock.

Melco Resorts & Entertainment Company Profile

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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