Melco Resorts & Entertainment Limited [MLCO] Is Currently 5.49 below its 200 Period Moving Avg: What Dose This Mean?

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] stock went on an upward path that rose over 5.49% on Friday, amounting to a one-week price increase of more than 11.48%. The company report on November 5, 2020 that Melco Announces Unaudited Third Quarter 2020 Earnings.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the third quarter of 2020.

Total operating revenues for the third quarter of 2020 were US$0.21 billion, representing a decrease of approximately 85% from US$1.44 billion for the comparable period in 2019. The decrease in total operating revenues was primarily attributable to softer performance in all gaming segments and non-gaming operations as a result of the COVID-19 pandemic, which resulted in a significant decline in inbound tourism in the third quarter of 2020.

Over the last 12 months, MLCO stock dropped by -15.84%. The one-year Melco Resorts & Entertainment Limited stock forecast points to a potential upside of 15.8. The average equity rating for MLCO stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.17 billion, with 476.94 million shares outstanding and 455.32 million shares in the current float. Compared to the average trading volume of 3.20M shares, MLCO stock reached a trading volume of 3734638 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Melco Resorts & Entertainment Limited [MLCO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLCO shares is $21.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLCO stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Melco Resorts & Entertainment Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 21, 2020. The new note on the price target was released on July 30, 2019, representing the official price target for Melco Resorts & Entertainment Limited stock.

The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.88, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 3.08. The Price to Book ratio for the last quarter was 6.71, with the Price to Cash per share for the same quarter was set at 4.24.

MLCO Stock Performance Analysis:

Melco Resorts & Entertainment Limited [MLCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.48. With this latest performance, MLCO shares gained by 20.80% in over the last four-week period, additionally plugging by 16.22% over the last 6 months – not to mention a drop of -15.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MLCO stock in for the last two-week period is set at 59.17, with the RSI for the last a single of trading hit 62.02, and the three-weeks RSI is set at 57.24 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 16.72, while it was recorded at 17.94 for the last single week of trading, and 16.67 for the last 200 days.

Insight into Melco Resorts & Entertainment Limited Fundamentals:

Melco Resorts & Entertainment Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

MLCO Stock EPS

With the latest financial reports released by the company, Melco Resorts & Entertainment Limited posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -48.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MLCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Melco Resorts & Entertainment Limited go to 7.49%.

Melco Resorts & Entertainment Limited [MLCO] Insider Position Details

There are presently around $3,274 million, or 40.80% of MLCO stock, in the hands of institutional investors. The top three institutional holders of MLCO stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 28,220,542, which is approximately -22.537% of the company’s market cap and around 33.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 19,786,490 shares of the stock with an approximate value of $357.34 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $253.84 million in MLCO stock with ownership of nearly 36.581% of the company’s market capitalization.

119 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 37,812,462 shares. Additionally, 131 investors decreased positions by around 27,313,058 shares, while 50 investors held positions by with 116,157,880 shares. The mentioned changes placed institutional holdings at 181,283,400 shares, according to the latest SEC report filing. MLCO stock had 37 new institutional investments in for a total of 18,634,452 shares, while 45 institutional investors sold positions of 3,612,283 shares during the same period.

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