Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Short Interest Down 12.6% in January

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 6,083,913 shares, a decrease of 12.6% from the January 15th total of 6,958,279 shares. Based on an average trading volume of 3,352,062 shares, the short-interest ratio is currently 1.8 days. Currently, 3.4% of the company’s shares are short sold. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 3,352,062 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Melco Resorts & Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of MLCO. Arrowstreet Capital Limited Partnership increased its holdings in shares of Melco Resorts & Entertainment by 67.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,198,664 shares of the company’s stock valued at $84,352,000 after acquiring an additional 3,700,980 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in Melco Resorts & Entertainment by 2.9% in the fourth quarter. Coronation Fund Managers Ltd. now owns 8,335,219 shares of the company’s stock valued at $63,098,000 after purchasing an additional 231,305 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Melco Resorts & Entertainment by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock valued at $31,700,000 after purchasing an additional 846,504 shares during the last quarter. FIL Ltd acquired a new stake in Melco Resorts & Entertainment during the fourth quarter worth approximately $35,198,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Melco Resorts & Entertainment by 257.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,864,347 shares of the company’s stock worth $29,253,000 after buying an additional 2,784,251 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 1.6%

Shares of Melco Resorts & Entertainment stock opened at $5.62 on Wednesday. Melco Resorts & Entertainment has a 52-week low of $4.55 and a 52-week high of $10.15. The company has a market capitalization of $2.36 billion, a P/E ratio of 12.22 and a beta of 0.63. The company has a 50 day moving average of $6.89 and a 200 day moving average of $8.21.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MLCO shares. UBS Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Monday. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.70 target price (down from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Finally, Texas Capital raised shares of Melco Resorts & Entertainment to a “strong-buy” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.