Melco Crown Entertainment Ltd. (NASDAQ:MPEL) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 14,791,546 shares, a decline of 8.9% from the October 31st total of 16,236,679 shares. Based on an average daily trading volume, of 3,827,207 shares, the short-interest ratio is presently 3.9 days.
A number of institutional investors have recently bought and sold shares of MPEL. Hillhouse Capital Management Ltd. bought a new position in Melco Crown Entertainment during the third quarter valued at $125,309,000. Harris Associates L P boosted its position in Melco Crown Entertainment by 25.9% in the second quarter. Harris Associates L P now owns 36,969,470 shares of the company’s stock valued at $465,076,000 after buying an additional 7,616,069 shares during the last quarter. Teachers Advisors LLC boosted its position in Melco Crown Entertainment by 1,373.7% in the third quarter. Teachers Advisors LLC now owns 5,098,451 shares of the company’s stock valued at $82,136,000 after buying an additional 4,752,485 shares during the last quarter. Coronation Fund Managers Ltd. bought a new position in Melco Crown Entertainment during the second quarter valued at $59,043,000. Finally, ARGA Investment Management LP boosted its position in Melco Crown Entertainment by 1,624.6% in the second quarter. ARGA Investment Management LP now owns 2,680,000 shares of the company’s stock valued at $33,714,000 after buying an additional 2,524,600 shares during the last quarter. 28.22% of the stock is owned by institutional investors.
Several brokerages have commented on MPEL. Zacks Investment Research downgraded shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Buckingham Research began 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 for the company. BNP Paribas reissued a “sell” rating on shares of Melco Crown Entertainment in a report on Sunday, August 28th. Finally, Macquarie began coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.88.
Melco Crown Entertainment (NASDAQ:MPEL) opened at 19.30 on Monday. Melco Crown Entertainment has a 52-week low of $11.91 and a 52-week high of $20.00. The firm has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.
Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. The firm earned $1.15 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. On average, equities analysts forecast that Melco Crown Entertainment will post $0.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.0126 per share. This represents a $0.05 annualized dividend and a yield of 0.26%. This is a boost from Melco Crown Entertainment’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, November 10th. Melco Crown Entertainment’s dividend payout ratio (DPR) is presently 25.00%.
About Melco Crown Entertainment