Short interest in Asian casino developer Melco Crown Entertainment Ltd’s Nasdaq-listed shares rose nearly 33 percent sequentially between end-June and mid-July, according to data compiled by stockratingsnetwork.com.
As of July 15, there was short interest totalling 8,592,356 shares, a growth of 32.6 percent from the June 30 total of 6,479,450 shares.
‘Short interest’ is a term used to define the quantity of stock shares that investors have sold short but not yet covered or closed out. Short interest can be a market sentiment indicator on whether investors think a stock’s price is likely to fall.
Analysts at JPMorgan Chase & Co cut their price target on shares of Melco Crown from US$47.00 to US$46.00 in a research note on July 9.
Separately, analysts at Credit Suisse Group AG initiated coverage on shares of Melco Crown in a research note on July 1. They set an “outperform” rating and a US$44.00 price target on the Nasdaq listing of the stock.
Melco Crown had risen 0.15 percent to US$32.71 at the close of trading in New York on Thursday. The stock has posted a one-year return of +39.53 percent.
Jan 19, 2018Australian slot machine maker Ainsworth Game Technology Ltd announced on Thursday that Mike Dreitzer, president of Ainsworth Game North America, has resigned. Mr Dreitzer will leave the company on...
Jan 18, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”The casino [at Jeju Shinhwa World] has been totally finished since December”
Executive vice president, casino, at Landing Entertainment Korea