Market cap of Melco Resorts & Entertainment Limited [MLCO] reaches 3.16B – now what?

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] closed the trading session at $6.25 on 10/17/22. The day’s price range saw the stock hit a low of $6.055, while the highest price level was $6.47. The company report on September 14, 2022 that Melco Announces Submission of Tender Proposal for Gaming Concession.


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Mr. Lawrence Ho, Chairman and Chief Executive Officer commented, “I would like to thank the Macau government for this opportunity. Our proposal reinforces our commitment to Macau and the further diversification of its economy. We look forward to playing a leadership role in partnering with the Macau government to execute on the government’s vision.”.

The stocks have a year to date performance of -38.61 percent and weekly performance of -16.67 percent. The stock has been moved at -5.02 percent over the last six months. The stock has performed 7.57 percent around the most recent 30 days and changed 18.15 percent over the most recent 3-months.

If compared to the average trading volume of 4.52M shares, MLCO reached to a volume of 6248605 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Melco Resorts & Entertainment Limited [MLCO]:

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 October 17, 2022. While these analysts kept the previous recommendation, CLSA dropped their target price from $7.84 to $7.73. The new note on the price target was released on May 06, 2022, representing the official price target for Melco Resorts & Entertainment Limited stock. Previously, the target price had yet another raise to $13, while Morgan Stanley analysts kept a Overweight rating on MLCO stock.

The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.55, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 1.86.

MLCO stock trade performance evaluation

Melco Resorts & Entertainment Limited [MLCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.67. With this latest performance, MLCO shares gained by 7.57% in over the last four-week period, additionally sinking by -5.02% over the last 6 months – not to mention a drop of -43.79% 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 46.07, with the RSI for the last a single of trading hit 39.33, and the three-weeks RSI is set at 49.11 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 5.96, while it was recorded at 6.71 for the last single week of trading, and 7.01 for the last 200 days.

Melco Resorts & Entertainment Limited [MLCO]: An insightful look at the core fundamentals

Melco Resorts & Entertainment Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.40.

Melco Resorts & Entertainment Limited [MLCO]: Insider Ownership positions

There are presently around $1,087 million, or 39.40% of MLCO stock, in the hands of institutional investors. The top three institutional holders of MLCO stocks are: ARGA INVESTMENT MANAGEMENT, LP with ownership of 25,974,112, which is approximately 21.918% of the company’s market cap and around 33.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 19,803,003 shares of the stock with an approximate value of $123.77 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $120.61 million in MLCO stock with ownership of nearly -8.073% of the company’s market capitalization.

Positions in Melco Resorts & Entertainment Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 78 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 32,401,298 shares. Additionally, 145 investors decreased positions by around 39,046,713 shares, while 32 investors held positions by with 102,514,166 shares. The mentioned changes placed institutional holdings at 173,962,177 shares, according to the latest SEC report filing. MLCO stock had 20 new institutional investments in for a total of 3,225,253 shares, while 76 institutional investors sold positions of 5,580,669 shares during the same period.

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