Today: BNP Paribas Arbitrage SA Reduces Position in Melco Crown Entertainment Ltd. (MPEL)

Today: BNP Paribas Arbitrage SA Reduces Position in Melco Crown Entertainment Ltd. (MPEL)

BNP Paribas Arbitrage SA cut its position in shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) by 29.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 258,103 shares of the company’s stock after selling 107,212 shares during the period. BNP Paribas Arbitrage SA’s holdings in Melco Crown Entertainment were worth $4,158,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. AMP Capital Investors Ltd boosted its stake in shares of Melco Crown Entertainment by 112.1% in the first quarter. AMP Capital Investors Ltd now owns 62,566 shares of the company’s stock worth $1,061,000 after buying an additional 33,071 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in shares of Melco Crown Entertainment by 89.4% in the second quarter. British Columbia Investment Management Corp now owns 81,978 shares of the company’s stock worth $1,031,000 after buying an additional 38,700 shares during the last quarter. Creative Planning boosted its stake in shares of Melco Crown Entertainment by 21.1% in the second quarter. Creative Planning now owns 56,294 shares of the company’s stock worth $708,000 after buying an additional 9,800 shares during the last quarter. Fis Group Inc. boosted its stake in shares of Melco Crown Entertainment by 114.2% in the second quarter. Fis Group Inc. now owns 132,174 shares of the company’s stock worth $1,659,000 after buying an additional 70,478 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Melco Crown Entertainment by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock worth $109,000 after buying an additional 1,200 shares during the last quarter. 29.16% of the stock is currently owned by institutional investors.

Melco Crown Entertainment Ltd. (NASDAQ:MPEL) traded down 0.10% during mid-day trading on Monday, hitting $19.28. 2,045,599 shares of the company traded hands. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00. Melco Crown Entertainment Ltd. has a one year low of $11.91 and a one year high of $20.00.

Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.09 billion. Melco Crown Entertainment had a net margin of 2.70% and a return on equity of 4.12%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Equities research analysts forecast that Melco Crown Entertainment Ltd. will post $0.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be given a $0.0126 dividend. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.05 annualized dividend and a yield of 0.26%. Melco Crown Entertainment’s payout ratio is currently 25.00%.

A number of equities research analysts have recently issued reports on MPEL shares. Zacks Investment Research cut shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Buckingham Research started coverage on shares of Melco Crown Entertainment in a report on Thursday, August 11th. They issued a “neutral” rating and a $15.50 price target on the stock. BNP Paribas reissued a “sell” rating on shares of Melco Crown Entertainment in a report on Sunday, August 28th. Finally, Macquarie started coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.88.

Melco Crown Entertainment Company Profile

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.

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