Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Free Report) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 9,220,000 shares, a decrease of 15.2% from the May 31st total of 10,870,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,250,000 shares, the days-to-cover ratio is currently 2.8 days.
Melco Resorts & Entertainment Stock Down 0.5 %
NASDAQ:MLCO traded down $0.03 during mid-day trading on Tuesday, reaching $6.99. 1,329,260 shares of the company were exchanged, compared to its average volume of 3,175,581. Melco Resorts & Entertainment has a 12 month low of $6.10 and a 12 month high of $13.91. The company has a fifty day moving average of $7.74 and a 200 day moving average of $7.87.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was up 55.2% on a year-over-year basis. As a group, research analysts forecast that Melco Resorts & Entertainment will post 0.3 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on Melco Resorts & Entertainment
Institutional Investors Weigh In On Melco Resorts & Entertainment
Hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC acquired a new position in Melco Resorts & Entertainment during the 1st quarter valued at about $196,000. Virtu Financial LLC acquired a new position in Melco Resorts & Entertainment during the 1st quarter valued at about $172,000. California State Teachers Retirement System lifted its position in Melco Resorts & Entertainment by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 239,056 shares of the company’s stock valued at $1,724,000 after purchasing an additional 21,945 shares during the period. Invenomic Capital Management LP acquired a new position in Melco Resorts & Entertainment during the 1st quarter valued at about $15,963,000. Finally, NWI Management LP lifted its position in Melco Resorts & Entertainment by 13.7% during the 1st quarter. NWI Management LP now owns 915,000 shares of the company’s stock valued at $6,597,000 after purchasing an additional 110,000 shares during the period. Institutional investors own 39.62% of the company’s stock.
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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