Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.24 and last traded at $14.19, with a volume of 1853681 shares traded. The stock had previously closed at $13.58.
Analyst Upgrades and Downgrades
MLCO has been the topic of a number of research analyst reports. StockNews.com upgraded Melco Resorts & Entertainment to a "sell" rating in a report on Thursday, December 1st. Credit Suisse Group downgraded Melco Resorts & Entertainment from an "outperform" rating to a "neutral" rating in a report on Monday, October 17th. Finally, JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $7.00 to $10.00 in a report on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $10.75.
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The business has a fifty day moving average price of $11.27 and a two-hundred day moving average price of $7.77. The company has a debt-to-equity ratio of 21.09, a current ratio of 2.34 and a quick ratio of 2.31. The firm has a market cap of $6.03 billion, a PE ratio of -7.57 and a beta of 1.10.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.04. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $305.79 million. On average, analysts anticipate that Melco Resorts & Entertainment Limited will post -2.05 EPS for the current fiscal year.Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. ARGA Investment Management LP grew its stake in Melco Resorts & Entertainment by 13.8% in the third quarter. ARGA Investment Management LP now owns 29,570,341 shares of the company's stock valued at $196,039,000 after purchasing an additional 3,596,229 shares in the last quarter. Eminence Capital LP grew its stake in Melco Resorts & Entertainment by 33.7% in the second quarter. Eminence Capital LP now owns 11,561,635 shares of the company's stock valued at $66,479,000 after purchasing an additional 2,912,040 shares in the last quarter. Long Pond Capital LP lifted its position in shares of Melco Resorts & Entertainment by 57.1% in the third quarter. Long Pond Capital LP now owns 10,830,196 shares of the company's stock worth $71,804,000 after buying an additional 3,936,295 shares during the last quarter. BlackRock Inc. lifted its position in shares of Melco Resorts & Entertainment by 52.3% in the third quarter. BlackRock Inc. now owns 9,078,406 shares of the company's stock worth $60,190,000 after buying an additional 3,117,633 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Melco Resorts & Entertainment by 6.8% in the first quarter. State Street Corp now owns 7,314,325 shares of the company's stock worth $55,881,000 after buying an additional 463,882 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company's stock.
Melco Resorts & Entertainment Company Profile
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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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