Short Interest in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Increases By 61.6%

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 9,390,000 shares, an increase of 61.6% from the February 13th total of 5,810,000 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 3,900,000 shares, the short-interest ratio is presently 2.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock valued at $44,000 after buying an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $73,000. Vident Advisory LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $142,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $145,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 3.3 %

Shares of MLCO stock traded up $0.18 during trading on Friday, reaching $5.63. 2,814,970 shares of the company’s stock were exchanged, compared to its average volume of 3,379,373. The firm’s fifty day moving average price is $5.67 and its 200-day moving average price is $6.18. Melco Resorts & Entertainment has a twelve month low of $4.78 and a twelve month high of $8.90. The stock has a market capitalization of $2.36 billion, a PE ratio of -25.59, a PEG ratio of 0.63 and a beta of 1.02.

Analyst Ratings Changes

MLCO has been the topic of a number of analyst reports. Citigroup cut Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $6.00 in a research note on Monday, February 10th. Susquehanna decreased their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a report on Monday, February 3rd. Finally, Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.24.

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.