Turner Investments LLC Takes $265,000 Position in Melco Crown Entertainment Limited (MLCO)

Turner Investments LLC acquired a new stake in Melco Crown Entertainment Limited (NASDAQ:MLCO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,000 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds also recently modified their holdings of MLCO. American Century Companies Inc. acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $90,957,000. Russell Investments Group Ltd. acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $61,384,000. Swiss National Bank acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $22,076,000. New York State Common Retirement Fund acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $19,409,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $18,280,000. 42.03% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on MLCO. Nomura 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 note 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 note on Tuesday, September 19th. Roth Capital began coverage on Melco Crown Entertainment Limited in a research note on Wednesday, November 1st. They issued a “buy” rating and a $34.00 price target for the company. Zacks Investment Research upgraded Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Thursday, November 9th. Finally, TheStreet lowered Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Melco Crown Entertainment Limited has a consensus rating of “Buy” and a consensus price target of $24.83.

Melco Crown Entertainment Limited (NASDAQ:MLCO) traded up $0.73 during trading hours on Tuesday, reaching $26.18. The company’s stock had a trading volume of 3,298,000 shares, compared to its average volume of 3,749,366. Melco Crown Entertainment Limited has a 52 week low of $14.89 and a 52 week high of $26.54. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. The stock has a market cap of $12,920.00, a price-to-earnings ratio of 30.30, a P/E/G ratio of 0.98 and a beta of 1.92.

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 dividend of $0.09 per share. 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 yield of 1.38%. The ex-dividend date of this dividend is Monday, November 13th. Melco Crown Entertainment Limited’s payout ratio is 55.56%.

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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.

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

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