Hanson & Doremus Investment Management Acquires Shares of 44,210 Melco Crown Entertainment Limited (MLCO)

Hanson & Doremus Investment Management acquired a new position in shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 44,210 shares of the company’s stock, valued at approximately $1,066,000.

Other large investors also recently bought and sold shares of the company. LS Investment Advisors LLC bought a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter worth about $129,000. GRATRY & Co LLC bought a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter worth about $639,000. Nationwide Fund Advisors bought a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter worth about $1,396,000. Korea Investment CORP bought a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter worth about $2,685,000. Finally, Aperio Group LLC bought a new position in shares of Melco Crown Entertainment Limited during the 3rd quarter worth about $3,506,000. Institutional investors own 39.33% of the company’s stock.

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Shares of Melco Crown Entertainment Limited (NASDAQ MLCO) traded down 0.64% during trading on Monday, hitting $23.13. 156,337 shares of the stock were exchanged. Melco Crown Entertainment Limited has a 52 week low of $14.89 and a 52 week high of $24.57. The firm has a 50 day moving average price of $23.51 and a 200 day moving average price of $22.14. The firm has a market capitalization of $11.31 billion, a P/E ratio of 44.83 and a beta of 1.84.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.25 billion. Melco Crown Entertainment Limited had a net margin of 5.11% and a return on equity of 9.20%. The firm’s revenue was up 21.3% on a year-over-year basis. Analysts forecast that Melco Crown Entertainment Limited will post $0.83 EPS for the current fiscal year.

Several research analysts have recently issued reports on MLCO shares. Nomura upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $29.00 in a report on Tuesday, September 19th. Instinet restated a “neutral” rating on shares of Melco Crown Entertainment Limited in a report on Monday, July 17th. Zacks Investment Research raised shares of Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, September 27th. TheStreet cut shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research note on Thursday, July 27th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Melco Crown Entertainment Limited in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.98.

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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