Short Interest in Melco Crown Entertainment Ltd. (MPEL) Grows By 17.6%
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 15,536,645 shares, a growth of 17.6% from the August 31st total of 13,215,496 shares. Based on an average daily volume of 4,030,874 shares, the short-interest ratio is presently 3.9 days.
Melco Crown Entertainment (NASDAQ:MPEL) opened at 16.09 on Wednesday. The stock has a 50 day moving average of $14.69 and a 200-day moving average of $14.54. The company has a market capitalization of $8.17 billion, a P/E ratio of 93.55 and a beta of 2.71. Melco Crown Entertainment has a 52-week low of $11.91 and a 52-week high of $20.23.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Melco Crown Entertainment had a net margin of 2.12% and a return on equity of 3.79%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. On average, equities analysts forecast that Melco Crown Entertainment will post $0.30 earnings per share for the current year.
The firm also recently announced a dividend, which was paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th were paid a $0.019 dividend. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio (DPR) is presently 23.53%.
Hedge funds have recently bought and sold shares of the stock. Aviva PLC boosted its stake in Melco Crown Entertainment by 0.4% in the first quarter. Aviva PLC now owns 45,400 shares of the company’s stock worth $750,000 after buying an additional 200 shares during the period. Hanson & Doremus Investment Management boosted its stake in Melco Crown Entertainment by 1.4% in the second quarter. Hanson & Doremus Investment Management now owns 45,545 shares of the company’s stock worth $573,000 after buying an additional 645 shares during the period. Daiwa Securities Group Inc. boosted its stake in Melco Crown Entertainment by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock worth $109,000 after buying an additional 1,200 shares during the period. Mckinley Capital Management LLC Delaware boosted its stake in Melco Crown Entertainment by 3.8% in the second quarter. Mckinley Capital Management LLC Delaware now owns 70,698 shares of the company’s stock worth $889,000 after buying an additional 2,569 shares during the period. Finally, Comerica Bank boosted its stake in Melco Crown Entertainment by 9.3% in the second quarter. Comerica Bank now owns 33,588 shares of the company’s stock worth $488,000 after buying an additional 2,862 shares during the period. Hedge funds and other institutional investors own 27.77% of the company’s stock.
Several brokerages recently commented on MPEL. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Melco Crown Entertainment in a research report on Saturday, June 4th. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Buckingham Research assumed coverage on shares of Melco Crown Entertainment in a research report on Thursday, August 11th. They issued a “neutral” rating and a $15.50 price objective for the company. Daiwa Capital Markets lowered shares of Melco Crown Entertainment from an “outperform” rating to a “hold” rating in a research report on Friday, June 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Melco Crown Entertainment presently has a consensus rating of “Hold” and an average price target of $17.76.
Melco Crown Entertainment Company Profile
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. The Company 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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