APG Asset Management N.V. Invests $9.74 Million in Melco Crown Entertainment Limited (MLCO)
APG Asset Management N.V. acquired a new position in Melco Crown Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 403,600 shares of the company’s stock, valued at approximately $9,735,000. APG Asset Management N.V. owned approximately 0.08% of Melco Crown Entertainment Limited at the end of the most recent quarter.
Separately, LS Investment Advisors LLC bought a new stake in Melco Crown Entertainment Limited in the 3rd quarter valued at about $129,000. 39.33% of the stock is currently owned by institutional investors.
Melco Crown Entertainment Limited (NASDAQ:MLCO) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. Melco Crown Entertainment Limited had a net margin of 5.11% and a return on equity of 9.20%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.32 billion. The business’s revenue was up 19.4% on a year-over-year basis.
MLCO has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Melco Crown Entertainment Limited in a research report on Wednesday, July 12th. UBS AG reaffirmed a “buy” rating on shares of Melco Crown Entertainment Limited in a research report on Monday, July 10th. Zacks Investment Research lowered Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. TheStreet lowered Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Finally, Roth Capital initiated coverage on Melco Crown Entertainment Limited in a research report on Wednesday. They issued a “buy” rating and a $34.00 target price for the company. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.77.
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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.
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