Shares of casino operators Genting Singapore <GENS.SI> and Genting Hong Kong <GENH.SI> were down on Tuesday on profit-taking and after a brokerage said the current valuation for Genting Hong Kong looks expensive.

Shares of Genting Singapore fell as much as 3% and at 11:09 a.m. they were trading at $1.98. Nearly 57 million shares had changed hands.

The stock has risen 56% since early August.

Genting Hong Kong shares lost as much as 4.2% to trade at $0.46 on a volume of 44.8 million shares. The stock has gained 80% since August.

According to filings to the Singapore Exchange on Monday, a director of Genting Singapore sold 900,000 shares of the firm at $2.047 each.

"It's their investment and if they want to cash out I don't see anything wrong with it, unless you are talking about huge quantities. I think it's just profit-taking for Genting as it has gone up so much already," said a local trader.

DBS Vickers maintained its "buy" rating and target price of $2.36 for Genting Singapore. It does not have a rating for Genting Hong Kong, but it said current valuation for the firm looks expensive and its target price estimate is about $0.37.