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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) saw unusually large options trading on Monday. Traders purchased 9,922 call options on the stock. This is an increase of 165% compared to the average volume of 3,751 call options.

Institutional Trading of Melco Resorts & Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at approximately $37,000. FNY Investment Advisers LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $88,000. Greenleaf Trust acquired a new stake in Melco Resorts & Entertainment during the fourth quarter worth about $92,000. Quadrant Capital Group LLC lifted its holdings in Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock worth $92,000 after acquiring an additional 1,386 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Susquehanna reduced their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $9.60 target price on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. Finally, StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.78.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO stock opened at $6.58 on Tuesday. Melco Resorts & Entertainment has a fifty-two week low of $6.10 and a fifty-two week high of $14.00. The stock has a market capitalization of $2.93 billion, a P/E ratio of -10.44 and a beta of 1.11. The company has a 50 day moving average price of $7.22 and a 200 day moving average price of $7.84.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The business’s revenue was up 224.4% on a year-over-year basis. On average, research analysts forecast that Melco Resorts & Entertainment will post 0.28 EPS for the current fiscal year.

About Melco Resorts & Entertainment

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.