Melco Resorts & Entertainment Limited [MLCO] Revenue clocked in at $1.49 billion, down -25.74% YTD: What’s Next?

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] gained 2.72% on the last trading session, reaching $7.56 price per share at the time. The company report on November 2, 2022 that Studio City International Holdings Limited Announces Unaudited Third Quarter 2022 Earnings.

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Total operating revenues for the third quarter of 2022 were negative US$2.8 million, compared to total operating revenues of US$18.7 million in the third quarter of 2021. The change was primarily attributable to the government mandated temporary casino closures in Macau in July and heightened travel restrictions in Macau and mainland China related to COVID-19 during the quarter which led to a decrease in revenue from casino contract and lower non-gaming revenues.

Melco Resorts & Entertainment Limited represents 462.24 million in outstanding shares, while the company has a total market value of $3.00 billion with the latest information. MLCO stock price has been found in the range of $7.545 to $7.895.

If compared to the average trading volume of 5.56M shares, MLCO reached a trading volume of 6835837 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 0.55, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 2.01.

Trading performance analysis for MLCO stock

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 18.12. With this latest performance, MLCO shares gained by 20.96% in over the last four-week period, additionally plugging by 37.70% over the last 6 months – not to mention a drop of -37.73% 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 65.22, with the RSI for the last a single of trading hit 72.09, and the three-weeks RSI is set at 61.41 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 6.23, while it was recorded at 6.98 for the last single week of trading, and 6.56 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 2.30.

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

There are presently around $1,343 million, or 43.80% 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 29,570,341, which is approximately 13.845% of the company’s market cap and around 33.50% of the total institutional ownership; HARDMAN JOHNSTON GLOBAL ADVISORS LLC, holding 19,201,192 shares of the stock with an approximate value of $145.16 million in MLCO stocks shares; and CITADEL ADVISORS LLC, currently with $83.4 million in MLCO stock with ownership of nearly 14.046% 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 85 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 31,841,806 shares. Additionally, 92 investors decreased positions by around 28,496,869 shares, while 32 investors held positions by with 117,344,366 shares. The mentioned changes placed institutional holdings at 177,683,041 shares, according to the latest SEC report filing. MLCO stock had 29 new institutional investments in for a total of 5,983,467 shares, while 28 institutional investors sold positions of 2,362,506 shares during the same period.


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