Myriad Asset Management Ltd. purchased a new position in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 234,700 shares of the company’s stock, valued at approximately $5,661,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. acquired a new stake in shares of Melco Crown Entertainment during the 3rd quarter valued at about $9,252,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Melco Crown Entertainment during the 3rd quarter valued at about $914,000. Platinum Investment Management Ltd. acquired a new stake in shares of Melco Crown Entertainment during the 3rd quarter valued at about $46,587,000. AMP Capital Investors Ltd acquired a new stake in shares of Melco Crown Entertainment during the 3rd quarter valued at about $6,546,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Melco Crown Entertainment during the 3rd quarter valued at about $23,524,000. 41.45% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on MLCO. Macquarie decreased their price target on shares of Melco Crown Entertainment from $26.00 to $25.80 and set an “outperform” rating on the stock in a research note on Friday, August 18th. TheStreet raised shares of Melco Crown Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Instinet raised shares of Melco Crown Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $29.00 in a research note on Tuesday, September 19th. Finally, Nomura raised their price target on shares of Melco Crown Entertainment from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Melco Crown Entertainment presently has a consensus rating of “Buy” and a consensus price target of $25.34.

Melco Crown Entertainment Limited (NASDAQ:MLCO) opened at $25.12 on Thursday. 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 12 month low of $14.89 and a 12 month high of $27.47. The firm has a market cap of $12,579.80, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.92.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, November 13th. Melco Crown Entertainment’s dividend payout ratio (DPR) is 56.45%.

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About Melco Crown Entertainment

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 (NASDAQ:MLCO)

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