Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 12,470,000 shares, a growth of 29.1% from the June 30th total of 9,660,000 shares. Based on an average daily volume of 3,130,000 shares, the days-to-cover ratio is presently 4.0 days. Approximately 2.9% of the shares of the stock are sold short.
Melco Resorts & Entertainment Trading Down 0.9 %
Shares of NASDAQ MLCO opened at $5.82 on Tuesday. The stock’s fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $7.54. Melco Resorts & Entertainment has a 12-month low of $5.67 and a 12-month high of $13.91. The stock has a market capitalization of $2.59 billion, a PE ratio of -13.86, a price-to-earnings-growth ratio of 0.51 and a beta of 1.04.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 55.2% on a year-over-year basis. On average, equities analysts predict that Melco Resorts & Entertainment will post 0.25 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on Melco Resorts & Entertainment
Institutional Investors Weigh In On Melco Resorts & Entertainment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. increased its holdings in shares of Melco Resorts & Entertainment by 1,297.2% during the second quarter. Panagora Asset Management Inc. now owns 246,001 shares of the company’s stock valued at $1,835,000 after acquiring an additional 228,394 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Melco Resorts & Entertainment during the 2nd quarter valued at approximately $42,000. Blue Trust Inc. raised its holdings in shares of Melco Resorts & Entertainment by 243.4% in the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after buying an additional 5,191 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of Melco Resorts & Entertainment by 16.2% during the second quarter. Coronation Fund Managers Ltd. now owns 15,500,865 shares of the company’s stock worth $115,636,000 after buying an additional 2,166,524 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Melco Resorts & Entertainment by 179.8% during the second quarter. SG Americas Securities LLC now owns 154,480 shares of the company’s stock valued at $1,152,000 after buying an additional 99,276 shares during the last quarter. 39.62% of the stock is currently owned by hedge funds and other institutional investors.
Melco Resorts & Entertainment Company Profile
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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