Traders Purchase Large Volume of Melco Resorts & Entertainment Call Options (NASDAQ:MLCO)

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 38,229 call options on the stock. This represents an increase of 874% compared to the typical volume of 3,923 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MLCO. ExodusPoint Capital Management LP purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $422,000. Goldman Sachs Group Inc. grew its position in shares of Melco Resorts & Entertainment by 158.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,418,255 shares of the company’s stock valued at $13,905,000 after purchasing an additional 1,480,864 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Melco Resorts & Entertainment by 21.0% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 82,638 shares of the company’s stock valued at $475,000 after purchasing an additional 14,367 shares in the last quarter. Collaborative Holdings Management LP purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $3,581,000. Finally, Creative Planning purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $105,000. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Up 11.4 %

NASDAQ MLCO traded up $0.79 during trading hours on Tuesday, hitting $7.73. The company’s stock had a trading volume of 6,012,228 shares, compared to its average volume of 4,485,206. Melco Resorts & Entertainment has a 52 week low of $4.06 and a 52 week high of $12.40. The company’s 50-day simple moving average is $5.57 and its two-hundred day simple moving average is $5.87. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt-to-equity ratio of 21.09. The company has a market capitalization of $3.53 billion, a PE ratio of -4.39 and a beta of 1.25.

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The company had revenue of $296.11 million for the quarter, compared to analysts’ expectations of $383.51 million. Melco Resorts & Entertainment had a negative net margin of 48.76% and a negative return on equity of 106.14%. Research analysts anticipate that Melco Resorts & Entertainment will post -1.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a “buy” rating in a report on Monday, September 26th. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.25.

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.

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