Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) saw some unusual options trading on Thursday. Traders bought 10,232 call options on the company. This represents an increase of approximately 1,072% compared to the average volume of 873 call options.
Melco Resorts & Entertainment Stock Performance
Shares of NASDAQ MLCO traded up $0.02 during trading on Thursday, reaching $5.50. The stock had a trading volume of 633,733 shares, compared to its average volume of 2,380,259. The company has a market cap of $2.24 billion, a P/E ratio of 11.95 and a beta of 0.58. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $10.15. The business's 50-day moving average price is $5.91 and its 200-day moving average price is $7.58.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. UBS Group upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $9.50 price target for the company in a report on Monday, February 16th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Texas Capital raised shares of Melco Resorts & Entertainment to a "strong-buy" rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $9.06.
View Our Latest Stock Report on MLCO
Institutional Trading of Melco Resorts & Entertainment
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Melco Resorts & Entertainment by 67.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,198,664 shares of the company's stock valued at $84,352,000 after purchasing an additional 3,700,980 shares during the period. Coronation Fund Managers Ltd. increased its stake in Melco Resorts & Entertainment by 2.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 8,335,219 shares of the company's stock worth $63,098,000 after buying an additional 231,305 shares during the period. Goldman Sachs Group Inc. increased its stake in Melco Resorts & Entertainment by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company's stock worth $31,700,000 after buying an additional 846,504 shares during the period. FIL Ltd acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $35,198,000. Finally, Balyasny Asset Management L.P. boosted its position in Melco Resorts & Entertainment by 257.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company's stock valued at $29,253,000 after buying an additional 2,784,251 shares during the period. 39.62% of the stock is currently owned by hedge funds and other institutional investors.
Melco Resorts & Entertainment Company Profile
(
Get Free Report)
Melco Resorts & Entertainment Limited NASDAQ: MLCO is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company's portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco's properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.
In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Melco Resorts & Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Melco Resorts & Entertainment wasn't on the list.
While Melco Resorts & Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply click the link below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
