Melco Resorts & Entertainment (NASDAQ:MLCO) Shares Gap Up to $5.82 #Melco #Resorts #Entertainment #NASDAQMLCO #Shares #Gap Welcome to Americanah Blog, here is the new story we have for you today:
Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $6.27. Melco Resorts & Entertainment shares last traded at $6.13, with a volume of 93,266 shares trading hands.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Melco Resorts & Entertainment from $12.50 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.00.
Melco Resorts & Entertainment Stock Performance
The company has a market capitalization of $2.65 billion, a P/E ratio of -3.20 and a beta of 1.45. The company’s 50 day moving average is $5.42 and its 200-day moving average is $5.96. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt-to-equity ratio of 21.09.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Melco Resorts & Entertainment had a negative net margin of 48.76% and a negative return on equity of 106.14%. The business had revenue of $296.11 million for the quarter, compared to analysts’ expectations of $383.51 million. Equities analysts anticipate that Melco Resorts & Entertainment Limited will post -1.88 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLCO. Ronald Blue Trust Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth $30,000. Quadrant Capital Group LLC increased its stake in Melco Resorts & Entertainment by 103.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock valued at $38,000 after purchasing an additional 3,380 shares in the last quarter. Samalin Investment Counsel LLC increased its stake in Melco Resorts & Entertainment by 10.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 9,887 shares of the company’s stock valued at $101,000 after purchasing an additional 896 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Melco Resorts & Entertainment in the first quarter worth about $78,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth approximately $78,000. Institutional investors own 35.87% of the company’s stock.
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.
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