Global X MANAGEMENT CO LLC acquired a new position in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 197,407 shares of the company’s stock, valued at approximately $4,761,000.
Other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Melco Crown Entertainment Limited in the third quarter worth about $112,000. LS Investment Advisors LLC bought a new position in shares of Melco Crown Entertainment Limited in the third quarter worth about $129,000. Cavalier Investments LLC bought a new position in shares of Melco Crown Entertainment Limited in the third quarter worth about $205,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Melco Crown Entertainment Limited during the 3rd quarter worth approximately $216,000. Finally, River Road Asset Management LLC acquired a new position in Melco Crown Entertainment Limited during the third quarter valued at approximately $264,000. 40.12% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on MLCO shares. Roth Capital initiated coverage on shares of Melco Crown Entertainment Limited in a research note on Wednesday, November 1st. They issued a “buy” rating and a $34.00 price target on the stock. Nomura raised shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Instinet reaffirmed a “neutral” rating on shares of Melco Crown Entertainment Limited in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, September 27th. Finally, TheStreet downgraded shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.83.
Shares of Melco Crown Entertainment Limited (NASDAQ MLCO) traded down $0.03 during trading on Monday, hitting $25.20. The stock had a trading volume of 1,524,000 shares, compared to its average volume of 3,799,611. Melco Crown Entertainment Limited has a 12-month low of $14.89 and a 12-month high of $26.54. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. The stock has a market cap of $12,450.00, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, November 14th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.43%. This is a positive change from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Monday, November 13th. Melco Crown Entertainment Limited’s payout ratio is presently 47.62%.
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About Melco Crown Entertainment Limited
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
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