Melco Resorts & Entertainment (MLCO)

• Market cap: $2.51B
• 1 day: -3.24%
• 5 days: -7.14%
• 1 month: -1.48%
• 3 months: -8.56%
• 6 months: -25.06%
• Year to date: -35.21%
• 1 year: -31.89%
• 5 years: -75.29%
• 10 years: -75.90%

About: Melco Resorts & Entertainment is one of only six licensed casino operators in Macao. It operates Altira, a complex focused on premium customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium patrons; and Mocha Clubs electronic gaming machines. The company also has a majority interest in Studio City, which opened in 2015. Outside Macao, Melco owns City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus. The business mix in terms of adjusted EBITDA was about 82.5% from Macao with the rest largely from the Philippines as of first-half 2024.

Employees: 20,209

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

338% more call options, than puts

Call options by funds: $50.6M | Put options by funds: $11.6M

23% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 22

3% more funds holding

Funds holding: 150 [Q2] → 155 (+5) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 5 (+0) [Q3]

2.03% less ownership

Funds ownership: 13.92% [Q2] → 11.89% (-2.03%) [Q3]

11% less capital invested

Capital invested by funds: $1.36B [Q2] → $1.21B (-$147M) [Q3]

34% less repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 61

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $7.50 25% upside
• Avg. target: $7.50 25% upside
• High target: $7.50 25% upside

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

Morgan Stanley Praveen Choudhary 0% 1-year accuracy 0 / 1 met price target

25% upside $7.50

Equal-Weight Downgraded

17 Dec 2024