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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) saw unusually large options trading activity on Tuesday. Stock traders purchased 7,716 call options on the stock. This is an increase of approximately 100% compared to the average daily volume of 3,858 call options.

NASDAQ MLCO opened at $20.68 on Thursday. Melco Resorts & Entertainment has a 12 month low of $12.04 and a 12 month high of $23.65. 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 company has a market capitalization of $9.86 billion, a price-to-earnings ratio of -9.89, a price-to-earnings-growth ratio of 135.39 and a beta of 1.76. The company’s fifty day moving average price is $20.66 and its two-hundred day moving average price is $18.13.

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

Several research firms have recently issued reports on MLCO. CLSA raised shares of Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Thursday, February 25th. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, January 5th. Credit Suisse Group lowered 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 report on Tuesday, January 19th. TheStreet raised shares of Melco Resorts & Entertainment from a “d” rating to a “c-” rating in a report on Monday, March 8th. Finally, Macquarie lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 price target for the company. in a report on Thursday, January 7th. Two equities research 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 has a consensus rating of “Buy” and a consensus target price of $21.23.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Asset Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth about $27,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of Melco Resorts & Entertainment in the 4th quarter worth about $78,000. Paloma Partners Management Co acquired a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth about $176,000. Raymond James & Associates acquired a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth about $177,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth about $177,000. Hedge funds and other 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.

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