Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders bought 8,162 call options on the stock. This is an increase of approximately 82% compared to the average daily volume of 4,490 call options.
Melco Resorts & Entertainment Trading Up 3.5 %
Shares of NASDAQ:MLCO traded up $0.22 during trading on Friday, reaching $6.42. The company's stock had a trading volume of 3,327,519 shares, compared to its average volume of 3,352,023. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $9.56. The firm's 50 day simple moving average is $6.92 and its two-hundred day simple moving average is $6.72. The stock has a market capitalization of $2.83 billion, a PE ratio of -29.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07.
Analyst Upgrades and Downgrades
Separately, Bank of America dropped their price objective on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.82.
Get Our Latest Stock Report on MLCO
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $42,000. Blue Trust Inc. raised its position in Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock worth $53,000 after purchasing an additional 5,191 shares during the period. Headlands Technologies LLC purchased a new stake in Melco Resorts & Entertainment in the 2nd quarter worth about $56,000. Russell Investments Group Ltd. purchased a new stake in Melco Resorts & Entertainment in the 1st quarter worth about $56,000. Finally, Ballentine Partners LLC purchased a new stake in Melco Resorts & Entertainment in the 3rd quarter worth about $81,000. Institutional investors own 39.62% of the company's stock.
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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