Sumitomo Mitsui Asset Management Company LTD purchased a new position in Melco Crown Entertainment Limited (NASDAQ:MLCO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,514 shares of the company’s stock, valued at approximately $446,000.

Other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB purchased a new position in Melco Crown Entertainment Limited in the third quarter worth approximately $3,739,000. GRATRY & Co LLC purchased a new stake in shares of Melco Crown Entertainment Limited during the 3rd quarter worth approximately $639,000. Harbor Advisors LLC purchased a new stake in shares of Melco Crown Entertainment Limited during the 3rd quarter worth approximately $422,000. Korea Investment CORP purchased a new stake in shares of Melco Crown Entertainment Limited during the 3rd quarter worth approximately $2,685,000. Finally, APG Asset Management N.V. purchased a new stake in shares of Melco Crown Entertainment Limited during the 3rd quarter worth approximately $9,735,000. Institutional investors own 39.33% of the company’s stock.

Several brokerages have recently weighed in on MLCO. Nomura boosted their price objective on shares of Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Roth Capital began coverage on shares of Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They set a “buy” rating and a $34.00 price objective for the company. Zacks Investment Research downgraded shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Instinet upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Melco Crown Entertainment Limited in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.60.

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Melco Crown Entertainment Limited (NASDAQ MLCO) opened at $25.01 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.08 and a quick ratio of 1.07. The stock has a market cap of $12,717.55, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.92. Melco Crown Entertainment Limited has a 12 month low of $14.89 and a 12 month high of $26.54.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be paid a $0.09 dividend. This is a boost from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. This represents a $0.36 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, November 13th. Melco Crown Entertainment Limited’s payout ratio is currently 48.39%.

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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Institutional Ownership by Quarter for Melco Crown Entertainment Limited (NASDAQ:MLCO)

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