Melco Resorts & Entertainment Limited (NASDAQ: MLCO) was the target of significant short-term interest growth during the month of May. As of May 14, there was short interest totaling 4,740,000 shares, an increase of 42.8% from the total of 3,320,000 shares as of April 29. Based on an average daily volume of 2,520,000 shares, the short interest ratio is currently 1.9 days.
A number of hedge funds have recently increased or reduced their holdings in MLCO. Capital Asset Advisory Services LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter for a value of approximately $ 27,000. Credit Agricole SA acquired a new position in Melco Resorts & Entertainment in the first quarter for a value of approximately $ 60,000. San Francisco Sentry Investment Group CA purchased a new fourth quarter interest in Melco Resorts & Entertainment valued at approximately $ 78,000. Eaton Vance Management acquired a new stake in Melco Resorts & Entertainment in the first quarter valued at approximately $ 94,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Melco Resorts & Entertainment by 29.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,071 shares of the company valued at $ 101,000 after purchasing an additional 1,140 shares during the period. 39.12% of the stock is held by institutional investors.
MLCO share open for $ 17.19 on Mondays. Melco Resorts & Entertainment has a one-year minimum of $ 14.50 and a one-year maximum of $ 23.65. The company has a market cap of $ 8.23 billion, a P / E ratio of -7.22 and a beta of 1.77. The company has a 50-day moving average of $ 18.60 and a 200-day moving average of $ 18.79. The company has a debt to equity ratio of 4.00, a current ratio of 1.89, and a quick ratio of 1.85.
Melco Resorts & Entertainment (NASDAQ: MLCO) last released its quarterly results on Wednesday, April 28. The company reported earnings per share (EPS) of ($ 0.49) for the quarter, missing the Zacks consensus estimate of ($ 0.36) from ($ 0.13). Melco Resorts & Entertainment posted a negative return on equity of 75.32% and a negative net margin of 78.87%. The company posted revenue of $ 518.90 million in the quarter, compared to the consensus estimate of $ 704.33 million. In the same period of the previous year, the company achieved earnings per share ($ 0.76). Melco Resorts & Entertainment’s quarterly revenue decreased 36.0% year over year. On average, equity research analysts expect Melco Resorts & Entertainment to post earnings per share of 1.24 for the current fiscal year.
Several analysts weighed on the action. TheStreet downgraded shares of Melco Resorts & Entertainment from a “c-” rating to a “d +” rating in a research note on Monday, May 24. Morgan Stanley downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to an “equal weight” rating and set a price target of $ 17.00 for the company. in a research note on Monday, May 24. Finally, CLSA upgraded shares of Melco Resorts & Entertainment from an “underperformance” rating to an “outperformance” rating in a research note on Thursday, February 25. Two analysts rated the stock with a sell rating, two assigned a sustaining rating and six issued a buy rating to the company. The stock currently has an average hold rating and a consensus price target of $ 20.85.
About Melco Resorts & Entertainment
Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and casino entertainment facilities in Asia. It owns and operates City of Dreams, an integrated casino complex with 500 table games and 800 slot machines; approximately 1,400 hotel rooms and suites; a performance hall on a wet stage with around 2,000 seats; around 30 restaurants and bars and 150 retail outlets; and leisure and recreation facilities, including health and fitness clubs, swimming pools, spa and lounges, as well as banquet and meeting facilities.
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