Todd Asset Management LLC Invests $16.33 Million in Melco Crown Entertainment Limited (MLCO)

Todd Asset Management LLC purchased a new stake in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 676,934 shares of the company’s stock, valued at approximately $16,328,000. Todd Asset Management LLC owned about 0.14% of Melco Crown Entertainment Limited at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLCO. American Century Companies Inc. acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $90,957,000. Swiss National Bank acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $22,076,000. New York State Common Retirement Fund acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $19,409,000. Sei Investments Co. acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $11,397,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $10,784,000. 40.12% of the stock is currently owned by institutional investors.

A number of research firms recently commented on MLCO. Zacks Investment Research lowered shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research note on Friday. Nomura raised their price objective on shares of Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Roth Capital began coverage on shares of Melco Crown Entertainment Limited in a research note on Wednesday, November 1st. They set a “buy” rating and a $34.00 price objective on the stock. Instinet upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $29.00 in a research note on Tuesday, September 19th. Finally, Macquarie lowered their price objective on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Melco Crown Entertainment Limited presently has a consensus rating of “Buy” and an average target price of $24.83.

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Melco Crown Entertainment Limited (MLCO) traded down $0.07 during trading on Tuesday, reaching $25.13. 1,204,900 shares of the company’s stock traded hands, compared to its average volume of 3,787,763. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market capitalization of $12,230.00, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92. Melco Crown Entertainment Limited has a 12-month low of $14.89 and a 12-month high of $26.54.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be given a $0.09 dividend. This is a positive change from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. The ex-dividend date is Monday, November 13th. This represents a $0.36 annualized dividend and a yield of 1.43%. Melco Crown Entertainment Limited’s payout ratio is 42.86%.

Melco Crown Entertainment Limited Profile

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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Institutional Ownership by Quarter for Melco Crown Entertainment Limited (NASDAQ:MLCO)

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