Public Employees Retirement Association of Colorado bought a new stake in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 57,700 shares of the company’s stock, valued at approximately $1,392,000.

Several other large investors have also made changes to their positions in the company. APG Asset Management N.V. purchased a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter valued at approximately $9,735,000. First Trust Advisors LP purchased a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter valued at approximately $6,588,000. USA Mutuals Advisors Inc. purchased a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter valued at approximately $6,414,000. Alexandria Capital LLC purchased a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter valued at approximately $5,714,000. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter valued at approximately $4,501,000. Hedge funds and other institutional investors own 39.33% of the company’s stock.

A number of research analysts have recently issued reports on MLCO shares. Zacks Investment Research upgraded Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, September 27th. Nomura upgraded Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Instinet upgraded Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Roth Capital started coverage on Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They set a “buy” rating and a $34.00 target price on the stock. Finally, TheStreet lowered Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.83.

TRADEMARK VIOLATION WARNING: “Public Employees Retirement Association of Colorado Takes $1.39 Million Position in Melco Crown Entertainment Limited (MLCO)” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/11/12/public-employees-retirement-association-of-colorado-takes-1-39-million-position-in-melco-crown-entertainment-limited-mlco.html.

Shares of Melco Crown Entertainment Limited (NASDAQ MLCO) opened at $25.20 on Friday. Melco Crown Entertainment Limited has a 52 week low of $14.89 and a 52 week high of $26.54. The stock has a market capitalization of $12,397.77, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be paid a $0.09 dividend. The ex-dividend date is Monday, November 13th. This is an increase from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.43%. Melco Crown Entertainment Limited’s dividend payout ratio (DPR) is 48.39%.

Melco Crown Entertainment Limited Company 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.

Want to see what other hedge funds are holding MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Crown Entertainment Limited (NASDAQ:MLCO).

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

Receive News & Ratings for Melco Crown Entertainment Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Crown Entertainment Limited and related companies with MarketBeat.com's FREE daily email newsletter.