Market cap of Melco Resorts & Entertainment Limited [MLCO] reaches 2.39B – now what?

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] loss -11.65% or -0.72 points to close at $5.46 with a heavy trading volume of 9291201 shares. 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.”.

It opened the trading session at $5.45, the shares rose to $5.56 and dropped to $5.01, the range by which the price of stock traded the whole day. The daily chart for MLCO points out that the company has recorded -11.79% loss over the past six months. However, it is still -34.48% lower than its most recent low trading price.

If we look at the average trading volume of 4.67M shares, MLCO reached to a volume of 9291201 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 18, 2022. The new note on the price target was released on October 17, 2022, representing the official price target for Melco Resorts & Entertainment Limited stock. Previously, the target price had yet another drop from $7.84 to $7.73, while CLSA kept a Buy rating on MLCO stock.

The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.61, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 1.41.

Trading performance analysis for MLCO stock

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 -12.64. With this latest performance, MLCO shares gained by 3.02% in over the last four-week period, additionally sinking by -11.79% over the last 6 months – not to mention a drop of -51.12% 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 39.98, with the RSI for the last a single of trading hit 34.69, and the three-weeks RSI is set at 43.42 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 6.02, while it was recorded at 5.89 for the last single week of trading, and 6.90 for the last 200 days.

Melco Resorts & Entertainment Limited [MLCO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Melco Resorts & Entertainment Limited [MLCO] shares currently have an operating margin of -26.97 and a Gross Margin at -1.81. Melco Resorts & Entertainment Limited’s Net Margin is presently recorded at -40.34.

Return on Equity for this stock declined to -120.54, with Return on Assets sitting at -9.07.

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.

An analysis of insider ownership at Melco Resorts & Entertainment Limited [MLCO]

There are presently around $964 million, or 41.10% 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 $108.12 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $105.37 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 79 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 34,906,276 shares. Additionally, 139 investors decreased positions by around 38,009,606 shares, while 31 investors held positions by with 103,564,478 shares. The mentioned changes placed institutional holdings at 176,480,360 shares, according to the latest SEC report filing. MLCO stock had 19 new institutional investments in for a total of 3,231,912 shares, while 71 institutional investors sold positions of 4,852,135 shares during the same period.

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