TCW Group Inc. purchased a new position in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 112,600 shares of the company’s stock, valued at approximately $2,716,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in Melco Crown Entertainment Limited during the third quarter valued at about $112,000. LS Investment Advisors LLC purchased a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $129,000. Cavalier Investments LLC purchased a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $205,000. State Board of Administration of Florida Retirement System purchased a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $216,000. Finally, River Road Asset Management LLC purchased a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $264,000. 40.12% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Melco Crown Entertainment Limited (MLCO) traded up $0.28 during trading hours on Friday, reaching $25.19. The company’s stock had a trading volume of 1,248,300 shares, compared to its average volume of 3,757,972. The firm has a market cap of $12,255.10, a PE ratio of 29.66, a PEG ratio of 1.03 and a beta of 1.92. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. Melco Crown Entertainment Limited has a 52-week low of $14.89 and a 52-week high of $26.54.

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

Several research analysts recently weighed in on MLCO shares. TheStreet cut Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Macquarie reduced their price target on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating for the company in a research report on Friday, August 18th. Zacks Investment Research cut Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Instinet upgraded Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Finally, Nomura raised Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $29.00 in a report on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.83.

Melco Crown Entertainment Limited 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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