Unusual call option transaction in Melco Resorts & Entertainment Ltd – ADR (MLCO) worth $123.53,000
On May 26, 2023 at 3:30:31 p.m. ET, an unusually large $123.53,000 block of call contracts in Melco Resorts & Entertainment Ltd – ADR (MLCO) was purchased, with a strike price of $11.00/share, expiring in 7 day(s) (June 2, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.59 sigma above the average, putting it in the 93.29th percentile of all recent large options trades made in MLCO .
This trade was first detected on Fintel’s real-time options feed tool, where unusual options trades are highlighted.
What is fund sentiment?
There are 283 funds or institutions reporting positions in Melco Resorts & Entertainment Ltd – ADR. This is an increase of 22 owner(s) or 8.43% in the last quarter. The average portfolio weight of all funds dedicated to MLCO is 0.42%, an increase of 1.54%. The total number of shares held by institutions has decreased by 0.39% over the past three months to 219,349,000 shares. MLCO’s put/call ratio is 0.61, indicating a bullish outlook.
Analyst price forecast suggests 30.68% upside
As of May 11, 2023, the one-year average price target for Melco Resorts & Entertainment Ltd – ADR is 14.49. The forecast ranges from a low of 4.65 to a high of $20.79. The average price target represents an increase of 30.68% from its last published closing price on 11.09.
Check out our ranking of companies with the biggest upward price target.
The expected annual turnover for Melco Resorts & Entertainment Ltd – ADR is 3,162 million, an increase of 98.68%. Projected annual non-GAAP EPS is -0.35.
What are the other shareholders doing?
ARGA Investment Management holds 28,430,000 shares representing 6.57% ownership of the company. In its previous filing, the company said it held 28,758,000 shares, down 1.15%. The company reduced its portfolio allocation in MLCO by 3.74% in the last quarter.
SMCWX – SMALLCAP WORLD FUND INC holds 17,831,000 shares representing 4.12% ownership of the company. In its previous filing, the company said it held 16,918,000 shares, representing an increase of 5.12%. The company increased its portfolio allocation to MLCO by 8.99% in the last quarter.
Wellington Management Group Llp holds 17,594,000 shares representing 4.06% ownership of the company. In its previous filing, the company said it held 24,268,000 shares, down 37.93%. The company reduced its portfolio allocation in MLCO by 88.81% in the last quarter.
Hardman Johnston Global Advisors owns 15,534,000 shares representing 3.59% ownership of the company. In its previous filing, the company said it held 15,632,000 shares, down 0.63%. The company increased its portfolio allocation in MLCO by 91,702.21% in the last quarter.
Capital Research Global Investors owns 15,301,000 shares representing 3.53% ownership of the company. In its previous filing, the company said it held 14,101,000 shares, which represents an increase of 7.84%. The company increased its portfolio allocation in MLCO by 13.42% in the last quarter.
Melco Resorts & Entertainment General Information
(This description is provided by the company.)
The Company, whose US depositary shares are listed on the Nasdaq Global Select Market, is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau, an integrated resort located in Taipa, Macau and City of Dreams, an integrated resort located in Cotai, Macau. Its business also includes Mocha Clubs, which comprise the largest non-casino electronic gaming machine operations in Macau. The Company also majority owns and operates Studio City, a cinema-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila, an integrated resort within the Entertainment City complex in Manila. In Europe, the company is currently developing City of Dreams Mediterranean in the Republic of Cyprus, which is expected to be the largest and most important integrated destination resort in Europe. The Company currently operates a temporary casino, the first licensed casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cypriot Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while the operation of the temporary casino will cease.
This story originally appeared on Fintel.
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