Stock traders buy high volume call options from Melco Resorts & Entertainment (NASDAQ:MLCO)

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) was the recipient of some unusual options trading activity on Thursday. Investors acquired 5,294 call options on the company. This is a 92% increase from the typical volume of 2,758 call options.

Performance of shares of Melco Resorts & Entertainment

NASDAQ: MLCO traded down $0.52 in Thursday’s midday session, hitting $5.71. The stock recorded a trading volume of 211,193 shares, compared to an average volume of 3,026,226 shares. The company has a quick ratio of 2.41, a current ratio of 2.36 and a debt ratio of 21.09. The stock has a market capitalization of $2.77 billion, a P/E ratio of -3.13 and a beta of 1.52. The company has a fifty-day simple moving average of $5.44 and a two-hundred-day simple moving average of $6.65. Melco Resorts & Entertainment has a 12 month minimum of $4.06 and a 12 month maximum of $14.65.

Institutional investors weigh in on Melco Resorts & Entertainment

A number of institutional investors have recently increased or reduced their stake in MLCO. Ronald Blue Trust Inc. purchased a new stake in shares of Melco Resorts & Entertainment during Q2 for $30,000. Quadrant Capital Group LLC increased its position in shares of Melco Resorts & Entertainment by 103.0% during the second quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company valued at $38,000 after acquiring an additional 3,380 shares during the period. Samalin Investment Counsel LLC increased its stake in shares of Melco Resorts & Entertainment by 10.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 9,887 shares of the company worth $101,000 after acquiring 896 additional shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Melco Resorts & Entertainment in Q1 worth approximately $78,000. Finally, We Are One Seven LLC acquired a new position in Melco Resorts & Entertainment during the fourth quarter at a value of $116,000. Hedge funds and other institutional investors hold 46.30% of the company’s shares.

Changes to analyst ratings


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A number of brokerages have recently released reports on MLCO. Citigroup lowered its price target on Melco Resorts & Entertainment from $12.50 to $11.00 and set a “buy” rating for the company in a Tuesday, July 5 research report. CICC Research downgraded Melco Resorts & Entertainment from an “outperforming” rating to a “market performing” rating in a Monday, May 9 report. One analyst rated the stock with a sell rating, two gave the company a hold rating and three gave the company’s stock a buy rating. Based on MarketBeat data, Melco Resorts & Entertainment currently has an average rating of “Hold” and a consensus price target of $11.33.

Company Profile Melco Resorts & Entertainment

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Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and entertainment facilities in Asia. It owns and operates City of Dreams, an integrated casino complex that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage auditorium 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, spas and salons, as well as banquet and meeting facilities.

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