39,470 Shares in Melco Crown Entertainment Limited (MLCO) Purchased by Boothbay Fund Management LLC
Boothbay Fund Management LLC purchased a new stake in Melco Crown Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,470 shares of the company’s stock, valued at approximately $952,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLCO. LS Investment Advisors LLC bought a new stake in shares of Melco Crown Entertainment in the 3rd quarter valued at $129,000. APG Asset Management N.V. bought a new stake in shares of Melco Crown Entertainment in the 3rd quarter valued at $9,735,000. GRATRY & Co LLC bought a new stake in shares of Melco Crown Entertainment in the 3rd quarter valued at $639,000. Nationwide Fund Advisors bought a new stake in shares of Melco Crown Entertainment in the 3rd quarter valued at $1,396,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of Melco Crown Entertainment in the 3rd quarter valued at $3,739,000. Institutional investors and hedge funds own 41.45% of the company’s stock.
A number of analysts recently commented on the stock. Macquarie lowered their price objective on shares of Melco Crown Entertainment from $26.00 to $25.80 and set an “outperform” rating for the company in a research report on Friday, August 18th. TheStreet upgraded Melco Crown Entertainment from a “c+” rating to a “b” rating in a report on Tuesday, November 21st. Zacks Investment Research cut Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Instinet upgraded Melco Crown Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $29.00 in a report on Tuesday, September 19th. Finally, Nomura increased their target price on Melco Crown Entertainment from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.34.
Melco Crown Entertainment Limited (MLCO) opened at $25.85 on Friday. The firm has a market capitalization of $12,722.47, a PE ratio of 30.79, a PEG ratio of 0.99 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. Melco Crown Entertainment Limited has a 1-year low of $14.89 and a 1-year high of $27.47.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Tuesday, November 14th were issued a $0.09 dividend. This is a boost from Melco Crown Entertainment’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.39%. Melco Crown Entertainment’s dividend payout ratio (DPR) is presently 56.45%.
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Melco Crown Entertainment 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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