Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Significant Increase in Short Selling

TECHNOLOGY

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) was the target of a sharp rise in short-term interest rates in August. As of Aug. 31, there were a total of 9.41 million shares shorted, up 6.0% from the total of 8.88 million on Aug. 15. Based on an average daily trading volume of 3,360,000 shares, the ratio of days covered is currently 2.8 days. About 2.0% of the company’s shares have been sold short.

Melco Resorts & Entertainment stock up 0.2%

Shares of Melco Resorts & Entertainment opened at $5.82 on Tuesday. His one year low at Melco Resorts & Entertainment is $4.06 and his one year high is $12.40. The company has a market capitalization of $2.75 billion, a price/earnings ratio of -3.33, and a beta of 1.45. The company has a 50-day moving average price of $5.39 and a 200-day moving average price of $5.96. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt to equity ratio of 21.09.

Melco Resorts & Entertainment (NASDAQ: MLCO – Get Rating) last announced quarterly earnings data on Thursday, August 18. The company reported his earnings per share ($0.51) for the quarter, beating analyst consensus expectations ($0.52) by $0.01. Melco Resorts & Entertainment had a net profit margin of 48.76% and a return on equity of 106.14%. The company’s revenue for the quarter was $296.11 million, compared with analyst estimates of $383.51 million. On average, equity research analysts expect Melco Resorts & Entertainment to post earnings per share of minus 1.88 for the current fiscal year.

Wall Street analyst opinion

Many equity research analysts comment on stocks. StockNews.com upgraded its shares in Melco Resorts & Entertainment to a sell rating in a report on Thursday, September 15th. Citigroup lowered its price target on Melco Resorts & Entertainment’s stock from $12.50 to $11.00 in a report on Tuesday, July 5, giving the company a Buy rating. One of his investment analysts gave the stock a sell rating, one issued a hold rating, and three assigned a buy rating to the stock. According to MarketBeat, the company’s current consensus valuation is “Hold” with a consensus price target of $12.00.

institution inflow and outflow

Many large investors have recently changed their positions in MLCOs. Ronald Blue Trust Inc. purchased new shares in Melco Resorts & Entertainment worth approximately $30,000 in the second quarter. Quadrant Capital Group LLC increased his Melco Resorts & Entertainment stock position by 103.0% in the second quarter. Quadrant Capital Group LLC now owns 6,661 shares worth $38,000 after purchasing an additional 3,380 of his shares last quarter. Commonwealth Equity Services LLC purchased approximately $78,000 worth of new Melco Resorts & Entertainment stock in the first quarter. Y Intercept Hong Kong Ltd purchased a new stake in Melco Resorts & Entertainment worth approximately $78,000 in the second quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in Melco Resorts & Entertainment stock by 59.0% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 16,010 shares worth $92,000 after purchasing an additional 5,941 of his shares last quarter. 35.87% of the shares are owned by institutional investors.

Melco Resorts & Entertainment Company Profile

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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 with 500 gaming tables and 800 gaming machines. Approximately 1,400 hotel rooms and suites. A wet stage performance theater with approximately 2,000 seats. About 30 restaurants and bars, and 150 retail stores. Recreational and leisure facilities such as health clubs, fitness clubs, swimming pools, spas, salons, banquet and conference facilities.

References

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