Melco Resorts & Entertainment Ltd – ADR (MLCO) unusual call option trade valued at $123,53,000
On May 26, 2023 at 15:30:31 ET an unusually large block of $123.53k call contracts was purchased in Melco Resorts & Entertainment Ltd – ADR (MLCO) with an exercise price of $11.00/share , which expires in 7 days) (on June 2, 2023). Fintel tracks all major options trades and the premium spent on that trade was 1.59 sigma above average, putting it in 93.29. percentile of all recent large options trades involving MLCO options.
This trade was first captured in Fintel’s real-time options flow tool, which highlights unusual options trades.
How is the fund sentiment?
There are 283 funds or institutions reporting positions in Melco Resorts & Entertainment Ltd – ADR. This represents an increase of 22 owners or 8.43% in the most recent quarter. The average portfolio weight across all MLCO funds is 0.42%, an increase of 1.54%. The total number of shares held by institutions fell 0.39% over the past three months to 219,349,000 shares. MLCO’s put/call ratio is 0.61, indicating a bullish outlook.
Analysts’ price forecast points to an upside potential of 30.68%
As of May 11, 2023, the average one-year target price for Melco Resorts & Entertainment Ltd – ADR is 14.49. Forecasts range from a low of $4.65 to a high of $20.79. The average price target represents a 30.68% increase from the last reported close of 11.09.
Check out our ranking of companies with the biggest price target upside.
The forecast 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 other shareholders doing?
ARGA Investment Management holds 28,430,000 shares representing a 6.57% stake in the company. In its previous filing, the company said it owned 28,758,000 shares, down 1.15%. The company reduced its portfolio allocation to MLCO by 3.74% last quarter.
SMCWX – SMALLCAP WORLD FUND INC holds 17,831,000 shares representing a 4.12% stake in the company. In its previous filing, the company said it owned 16,918,000 shares, up 5.12%. The company increased its portfolio allocation to MLCO by 8.99% last quarter.
Wellington Management Group Llp holds 17,594,000 shares representing a 4.06% stake in the company. In its previous filing, the company said it owned 24,268,000 shares, down 37.93%. The company reduced its portfolio allocation to MLCO by 88.81% last quarter.
Hardman Johnston Global Advisors holds 15,534,000 shares representing a 3.59% interest in the company. In its previous filing, the company said it owned 15,632,000 shares, down 0.63%. The company increased its portfolio allocation to MLCO by 91,702.21% in the most recent quarter.
Capital Research Global Investors holds 15,301,000 shares representing a 3.53% stake in the company. In its previous filing, the company said it owned 14,101,000 shares, up 7.84%. The company increased its portfolio allocation to MLCO by 13.42% in the most recent quarter.
Background information on Melco Resorts & Entertainment
(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 properties in Asia and Europe. The Company currently operates Altira Macau, an integrated resort in Taipa, Macau, and City of Dreams, an integrated resort in Cotai, Macau. Its business also includes Mocha Clubs, which comprises the largest non-casino electronic slots operation in Macau. The Company also majority owns and operates Studio City, an integrated cinema-themed resort in Cotai, Macau. In the Philippines, a Filipino 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 leading integrated destination resort in Europe. The Company currently operates a temporary casino, the first authorized casino in the Republic of Cyprus and is licensed to operate four satellite casinos (“Cyprus Casinos”). After the opening of City of Dreams Mediterranean, the company will continue to operate the satellite casinos while the operations of the temporary casino will be suspended.
This story originally appeared on Fintel.
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