Shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) rose 5.4% during mid-day trading on Monday . The stock traded as high as $12.66 and last traded at $12.60, with a volume of 4,202,219 shares traded. The stock had previously closed at $11.95.

MPEL has been the topic of several research analyst reports. Sterne Agee CRT reissued a “buy” rating and issued a $20.00 price objective (down from $22.50) on shares of Melco Crown Entertainment in a research report on Monday, April 18th. Goldman Sachs Group Inc. reissued a “neutral” rating on shares of Melco Crown Entertainment in a research report on Monday, May 9th. Credit Suisse Group AG reissued a “neutral” rating on shares of Melco Crown Entertainment in a research report on Thursday, May 19th. Deutsche Bank AG reissued a “hold” rating on shares of Melco Crown Entertainment in a research report on Friday, April 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Melco Crown Entertainment in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.18.

The firm’s 50 day moving average price is $13.58 and its 200-day moving average price is $14.93. The company has a market cap of $6.77 billion and a P/E ratio of 80.51.

Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. During the same period last year, the firm posted $0.11 earnings per share. The company earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Melco Crown Entertainment’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Melco Crown Entertainment Ltd. will post $0.33 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Covey Capital Advisors LLC boosted its stake in shares of Melco Crown Entertainment by 4.6% in the fourth quarter. Covey Capital Advisors LLC now owns 439,211 shares of the company’s stock worth $7,379,000 after buying an additional 19,410 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Melco Crown Entertainment by 87.4% in the fourth quarter. Schroder Investment Management Group now owns 1,685,606 shares of the company’s stock worth $28,318,000 after buying an additional 786,106 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Melco Crown Entertainment by 0.9% in the fourth quarter. Bank of Montreal Can now owns 106,721 shares of the company’s stock worth $1,793,000 after buying an additional 989 shares in the last quarter. Harris Associates L P boosted its stake in shares of Melco Crown Entertainment by 8.5% in the fourth quarter. Harris Associates L P now owns 38,463,781 shares of the company’s stock worth $646,192,000 after buying an additional 3,027,754 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. purchased a new stake in shares of Melco Crown Entertainment during the fourth quarter worth about $2,453,000.

Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines.

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