Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Short Interest Down 38.1% in January

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 5,160,000 shares, a decline of 38.1% from the January 15th total of 8,340,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,770,000 shares, the short-interest ratio is presently 1.4 days.

Melco Resorts & Entertainment Stock Performance

Shares of MLCO stock traded up $0.52 on Monday, reaching $6.27. 10,580,872 shares of the company were exchanged, compared to its average volume of 4,262,165. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -28.50, a P/E/G ratio of 0.55 and a beta of 1.04. The business has a 50-day moving average price of $5.85 and a 200 day moving average price of $6.14. Melco Resorts & Entertainment has a 1 year low of $4.78 and a 1 year high of $9.24.

Institutional Trading of Melco Resorts & Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its stake in Melco Resorts & Entertainment by 16.6% during the 3rd quarter. Signaturefd LLC now owns 18,881 shares of the company's stock valued at $147,000 after acquiring an additional 2,686 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Melco Resorts & Entertainment by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company's stock valued at $291,000 after acquiring an additional 3,873 shares in the last quarter. Creative Planning grew its stake in Melco Resorts & Entertainment by 35.9% during the 3rd quarter. Creative Planning now owns 15,962 shares of the company's stock valued at $124,000 after acquiring an additional 4,220 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock valued at $44,000 after purchasing an additional 4,403 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Melco Resorts & Entertainment by 12.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,152 shares of the company's stock valued at $437,000 after purchasing an additional 6,148 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $7.50 target price (down from $9.60) on shares of Melco Resorts & Entertainment in a research report on Tuesday, December 17th. Susquehanna decreased their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a research report on Monday, February 3rd. Finally, Citigroup downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and decreased their target price for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.40.

About Melco Resorts & Entertainment

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.