Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Short Interest Update

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 9,390,000 shares, an increase of 61.6% from the February 13th total of 5,810,000 shares. Based on an average trading volume of 3,900,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MLCO shares. Susquehanna lowered their price target on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research report on Monday, February 3rd. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Finally, Citigroup downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "neutral" rating and dropped their price target for the company from $10.00 to $6.00 in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and a consensus target price of $7.24.

Melco Resorts & Entertainment Trading Up 0.5 %

MLCO stock traded up $0.03 during mid-day trading on Wednesday, hitting $5.78. The stock had a trading volume of 2,659,695 shares, compared to its average volume of 3,375,954. The firm has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $6.20. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $8.90. The firm has a market capitalization of $2.43 billion, a P/E ratio of -26.27, a P/E/G ratio of 0.63 and a beta of 1.02.

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Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MLCO. ARGA Investment Management LP increased its stake in shares of Melco Resorts & Entertainment by 1.6% in the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after purchasing an additional 456,117 shares during the last quarter. Eminence Capital LP grew its position in Melco Resorts & Entertainment by 22.1% in the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock valued at $44,791,000 after acquiring an additional 1,402,619 shares during the last quarter. Nuveen Asset Management LLC grew its position in Melco Resorts & Entertainment by 1.4% in the fourth quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company's stock valued at $35,211,000 after acquiring an additional 83,268 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Melco Resorts & Entertainment during the fourth quarter worth about $28,989,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Melco Resorts & Entertainment by 92.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock worth $13,886,000 after acquiring an additional 1,150,500 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

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.