27,808 Shares in Melco Crown Entertainment Limited (MLCO) Purchased by Lenox Wealth Management Inc.

Lenox Wealth Management Inc. bought a new stake in Melco Crown Entertainment Limited (NASDAQ:MLCO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 27,808 shares of the company’s stock, valued at approximately $670,000.

Several other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Melco Crown Entertainment during the third quarter worth about $112,000. LS Investment Advisors LLC acquired a new position in shares of Melco Crown Entertainment during the third quarter worth about $129,000. Nordea Investment Management AB acquired a new position in shares of Melco Crown Entertainment during the third quarter worth about $136,000. Hartford Investment Management Co. acquired a new position in shares of Melco Crown Entertainment during the third quarter worth about $203,000. Finally, Cavalier Investments LLC acquired a new position in shares of Melco Crown Entertainment during the third quarter worth about $205,000. 41.45% of the stock is owned by institutional investors and hedge funds.

Melco Crown Entertainment Limited (NASDAQ MLCO) opened at $25.12 on Thursday. 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 1 year low of $14.89 and a 1 year high of $27.47. The firm has a market cap of $12,579.80, a PE ratio of 30.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.92.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th were given a dividend of $0.09 per share. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.03. This represents a $0.36 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Monday, November 13th. Melco Crown Entertainment’s dividend payout ratio is presently 56.45%.

A number of brokerages have recently issued reports on MLCO. Daiwa Capital Markets upgraded shares of Melco Crown Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, November 30th. TheStreet upgraded shares of Melco Crown Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Macquarie dropped their price target on shares of Melco Crown Entertainment from $26.00 to $25.80 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Finally, Roth Capital began coverage on shares of Melco Crown Entertainment in a research note on Wednesday, November 1st. They set a “buy” rating and a $34.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.34.

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Melco Crown Entertainment 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.

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

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