Wells Fargo & Company restated their market perform rating on shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) in a research report released on Thursday morning.
Several other analysts have also recently commented on MPEL. Zacks Investment Research upgraded Melco Crown Entertainment Limited from a hold rating to a strong-buy rating and set a $20.00 target price on the stock in a report on Tuesday, November 8th. Aegis assumed coverage on Melco Crown Entertainment Limited in a report on Thursday, December 22nd. They set a buy rating and a $22.00 target price on the stock. Sanford C. Bernstein restated an outperform rating on shares of Melco Crown Entertainment Limited in a report on Friday, December 2nd. Deutsche Bank AG upgraded Melco Crown Entertainment Limited from a hold rating to a buy rating and increased their target price for the stock from $14.00 to $17.00 in a report on Friday, September 9th. Finally, Goldman Sachs Group, Inc. (The) restated a neutral rating on shares of Melco Crown Entertainment Limited in a report on Wednesday, October 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $17.29.
Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 5.56% during mid-day trading on Thursday, reaching $16.89. The company’s stock had a trading volume of 2,065,037 shares. The company has a market cap of $8309.46 billion, a price-to-earnings ratio of 49.68 and a beta of 2.15. The stock’s 50 day moving average is $17.32 and its 200 day moving average is $15.47. Melco Crown Entertainment Limited has a 12 month low of $11.90 and a 12 month high of $20.00.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Melco Crown Entertainment Limited by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock valued at $109,000 after buying an additional 1,200 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Melco Crown Entertainment Limited during the second quarter valued at approximately $165,000. Prudential Financial Inc. increased its position in shares of Melco Crown Entertainment Limited by 27.8% in the second quarter. Prudential Financial Inc. now owns 13,709 shares of the company’s stock valued at $172,000 after buying an additional 2,985 shares in the last quarter. GRATRY & Co LLC acquired a new position in shares of Melco Crown Entertainment Limited during the third quarter valued at approximately $179,000. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Melco Crown Entertainment Limited during the second quarter valued at approximately $181,000. Institutional investors own 32.11% of the company’s stock.
About Melco Crown Entertainment Limited
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.
