Opera Trading Capital acquired a new position in Melco Crown Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 390,000 shares of the company’s stock, valued at approximately $9,407,000. Melco Crown Entertainment Limited makes up approximately 1.3% of Opera Trading Capital’s holdings, making the stock its 26th biggest position. Opera Trading Capital owned about 0.08% of Melco Crown Entertainment Limited at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in Melco Crown Entertainment Limited in the third quarter worth about $112,000. LS Investment Advisors LLC purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth approximately $129,000. Cavalier Investments LLC purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth approximately $205,000. State Board of Administration of Florida Retirement System purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth approximately $216,000. Finally, River Road Asset Management LLC bought a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth approximately $264,000. Institutional investors own 40.12% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Opera Trading Capital Takes $9.41 Million Position in Melco Crown Entertainment Limited (MLCO)” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.watchlistnews.com/opera-trading-capital-takes-9-41-million-position-in-melco-crown-entertainment-limited-mlco/1700234.html.

Several research firms have recently weighed in on MLCO. Macquarie cut their target price on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Zacks Investment Research downgraded Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. TheStreet downgraded Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Instinet raised Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Finally, Nomura upped their price objective on Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.83.

Shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) traded down $0.03 during mid-day trading on Monday, hitting $25.20. The company’s stock had a trading volume of 1,524,000 shares, compared to its average volume of 3,799,611. 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 stock has a market cap of $12,450.00, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92. Melco Crown Entertainment Limited has a twelve month low of $14.89 and a twelve month high of $26.54.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.09 per share. This is a boost 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%. The ex-dividend date is Monday, November 13th. Melco Crown Entertainment Limited’s dividend payout ratio is 47.62%.

About Melco Crown Entertainment Limited

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 Analyst Ratings Network's FREE daily email newsletter.