Why Shares of Melco Resorts & Entertainment Limited (MLCO) Are Going Crazy

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is -2.86% lower on its value in year-to-date trading and has touched a low of $10.81 and a high of $25.08 in the current 52-week trading range. The MLCO stock was last observed hovering at around $18.51 in the last trading session, with the day’s loss setting it -0.49% off its average median price target of $22.00 for the next 12 months. It is also 39.93% off the consensus price target high of $30.00 offered by 19 analysts, but current levels are -28.71% lower than the price target low of $14.00 for the same period.

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Currently trading at $18.02, the stock is -2.72% and -0.74% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.02 million and changing -2.65% at the moment leaves the stock 7.10% off its SMA200. MLCO registered -21.55% loss for a year compared to 6-month gain of -0.66%. The firm has a 50-day simple moving average (SMA 50) of $18.61 and a 200-day simple moving average (SMA200) of $17.53.

The stock witnessed a -4.96% loss in the last 1 month and extending the period to 3 months gives it a 16.71%, and is 0.45% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.24% over the week and 2.78% over the month.

Melco Resorts & Entertainment Limited (MLCO) has around 23078 employees, a market worth around $8.60B and $2.65B in sales. Fwd P/E is 419.07. Profit margin for the company is -37.60%. Distance from 52-week low is 66.70% and -28.15% from its 52-week high. The company has generated returns on investments over the last 12 months (10.30%).

Melco Resorts & Entertainment Limited (MLCO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Melco Resorts & Entertainment Limited (MLCO) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 2 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Melco Resorts & Entertainment Limited is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at -$0.57 with sales reaching $522.07M over the same period.The EPS is expected to grow by 15.20% this year, but quarterly earnings will post -68.10% year-over-year. Quarterly sales are estimated to shrink -64.00% in year-over-year returns.

Melco Resorts & Entertainment Limited (MLCO) Top Institutional Holders

385 institutions hold shares in Melco Resorts & Entertainment Limited (MLCO), with institutional investors hold 41.47% of the company’s shares. The shares outstanding are 476.94M, and float is at 455.32M with Short Float at 0.52%. Institutions hold 41.47% of the Float.

The top institutional shareholder in the company is Capital Research Global Investors with over 28.22 million shares valued at $469.87 million. The investor’s holdings represent 5.71% of the MLCO Shares outstanding. As of Sep 29, 2020, the second largest holder is Capital World Investors with 19.79 million shares valued at $329.45 million to account for 4.00% of the shares outstanding. The other top investors are Hardman Johnston Global Advisors LLC which holds 14.05 million shares representing 2.84% and valued at over $233.91 million, while Blackrock Inc. holds 2.09% of the shares totaling 10.34 million with a market value of $172.19 million.

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Melco Resorts & Entertainment Limited (MLCO): Who are the competitors?

The company’s main competitors (and peers) include Las Vegas Sands Corp. (LVS) that is -20.45% lower over the past 12 months. Wynn Resorts Limited (WYNN) is -24.46% down on the 1-year trading charts. Short interest in the company’s stock has fallen -18.64% from the last report on Nov 12, 2020 to stand at a total of 2.8 million short shares sold with a short interest ratio of 1.15.

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