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

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

Wall Street Analysts Forecast Growth

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

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $5.53 on Tuesday. Melco Resorts & Entertainment has a 52 week low of $4.55 and a 52 week high of $10.15. The firm’s 50-day simple moving average is $6.95 and its 200 day simple moving average is $8.23. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 12.02 and a beta of 0.63.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently made changes to their positions in MLCO. Arrowstreet Capital Limited Partnership increased its stake in Melco Resorts & Entertainment by 1,819.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock worth $39,748,000 after acquiring an additional 5,211,263 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter worth $35,665,000. National Bank of Canada FI increased its position in shares of Melco Resorts & Entertainment by 71,281.5% in the third quarter. National Bank of Canada FI now owns 2,206,402 shares of the company’s stock worth $20,233,000 after purchasing an additional 2,203,311 shares during the period. Balyasny Asset Management L.P. raised its stake in Melco Resorts & Entertainment by 526.0% in the second quarter. Balyasny Asset Management L.P. now owns 1,537,034 shares of the company’s stock valued at $11,113,000 after purchasing an additional 1,291,495 shares in the last quarter. Finally, Man Group plc acquired a new position in Melco Resorts & Entertainment in the third quarter valued at about $11,095,000. 39.62% of the stock is currently owned by institutional investors.

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.