Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) saw unusually large options trading on Tuesday. Traders acquired 26,378 call options on the stock. This represents an increase of approximately 519% compared to the average volume of 4,260 call options.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley reiterated an "equal weight" rating and set a $7.50 price objective (down previously from $9.60) on shares of Melco Resorts & Entertainment in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.40.
View Our Latest Stock Report on MLCO
Hedge Funds Weigh In On Melco Resorts & Entertainment
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Headlands Technologies LLC purchased a new position in shares of Melco Resorts & Entertainment in the second quarter worth $56,000. Ballentine Partners LLC purchased a new position in Melco Resorts & Entertainment in the 3rd quarter worth about $81,000. Leo Wealth LLC bought a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $93,000. Creative Planning lifted 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 during the period. Finally, Signaturefd LLC boosted its holdings in shares of 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 during the last quarter. 39.62% of the stock is owned by institutional investors.
Melco Resorts & Entertainment Stock Performance
Shares of NASDAQ:MLCO traded up $0.19 during trading on Tuesday, reaching $5.79. 2,837,267 shares of the stock traded hands, compared to its average volume of 3,360,736. The stock has a market cap of $2.43 billion, a P/E ratio of -26.32, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The stock has a 50-day moving average of $6.43 and a two-hundred day moving average of $6.44. Melco Resorts & Entertainment has a 52-week low of $4.78 and a 52-week high of $9.56.
Melco Resorts & Entertainment Company Profile
(
Get Free Report)
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.
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