During the last session, Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO)’s traded shares were 4.21 million, with the beta value of the company hitting 1.13. At the end of the trading day, the stock’s price was $7.30, reflecting an intraday loss of -3.31% or -$0.25. The 52-week high for the MLCO share is $14.45, that puts it down -97.95 from that peak though still a striking 9.45% gain since the share price plummeted to a 52-week low of $6.61. The company’s market capitalization is $3.19B, and the average intraday trading volume over the past 10 days was 3.73 million shares, and the average trade volume was 3.32 million shares over the past three months.
Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) trade information
Melco Resorts & Entertainment Ltd ADR (MLCO) registered a -3.31% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.31% in intraday trading to $7.30, hitting a weekly high. The stock’s 5-day price performance is -2.80%, and it has moved by -19.25% in 30 days. Based on these gigs, the overall price performance for the year is -40.36%. The short interest in Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) is 5.5 million shares and it means that shorts have 1.86 day(s) to cover.
Melco Resorts & Entertainment Ltd ADR (MLCO) estimates and forecasts
Statistics show that Melco Resorts & Entertainment Ltd ADR has outperformed its competitors in share price, compared to the industry in which it operates. Melco Resorts & Entertainment Ltd ADR (MLCO) shares have gone down -27.79% during the last six months, with a year-to-date growth rate more than the industry average at 700.00% against 17.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 116.70% this quarter and then jump 240.00% in the quarter after that. In the rating firms’ projections, revenue will increase 22.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.09 billion as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $1.13 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $891.99 million and $947.94 million respectively. In this case, analysts expect current quarter sales to grow by 22.70% and then jump by 19.60% in the coming quarter.
While earnings are projected to return 134.23% in 2024, the next five years will return 8.00% per annum.
MLCO Dividends
Melco Resorts & Entertainment Ltd ADR is due to release its next quarterly earnings between May 08 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO)’s Major holders
Melco Resorts & Entertainment Ltd ADR insiders own 0.00% of total outstanding shares while institutional holders control 41.33%, with the float percentage being 41.33%. ARGA Investment Management, LP is the largest shareholder of the company, while 236 institutions own stock in it. As of Jun 29, 2023, the company held over 27.82 million shares (or 5.12% of all shares), a total value of $339.67 million in shares.
The next largest institutional holding, with 16.3 million shares, is of Capital Research Global Investors’s that is approximately 3.00% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $199.04 million.
Also, the Mutual Funds coming in first place with the largest holdings of Melco Resorts & Entertainment Ltd ADR (MLCO) shares are Smallcap World Fund and Vanguard International Value Fund. Data provided on Jun 29, 2023 indicates that Smallcap World Fund owns about 19.75 million shares. This amounts to just over 3.63 percent of the company’s overall shares, with a $241.18 million market value. The same data shows that the other fund manager holds slightly less at 9.94 million, or about 1.83% of the stock, which is worth about $135.34 million.
