Melco Crown Entertainment Limited (MLCO) Stock Rating Lowered by Zacks Investment Research

Melco Crown Entertainment Limited (NASDAQ:MLCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment casino resort facilities primarily in Asia. Melco Resorts & Entertainment Ltd, formerly known as Melco Crown Entertainment Limited, is based in Hong Kong. “

MLCO has been the subject of several other research reports. Roth Capital began coverage on shares of Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They set a “buy” rating and a $34.00 price objective for the company. TheStreet lowered shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Instinet upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $29.00 in a report on Tuesday, September 19th. Nomura raised their target price on shares of Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, Macquarie lowered their target price on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating for the company in a report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Melco Crown Entertainment Limited presently has a consensus rating of “Buy” and an average target price of $24.83.

Melco Crown Entertainment Limited (NASDAQ MLCO) traded down $0.03 during mid-day trading on Friday, reaching $25.20. 1,524,000 shares of the company’s stock traded hands, compared to its average volume of 3,155,747. Melco Crown Entertainment Limited has a fifty-two week low of $14.89 and a fifty-two week high of $26.54. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $12,397.77, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.04 and a beta of 1.92.

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A number of hedge funds have recently bought and sold shares of MLCO. LS Investment Advisors LLC purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $129,000. APG Asset Management N.V. purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $9,735,000. GRATRY & Co LLC purchased a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $639,000. Nationwide Fund Advisors purchased a new position in Melco Crown Entertainment Limited during the 3rd quarter valued at about $1,396,000. Finally, Handelsbanken Fonder AB purchased a new position in Melco Crown Entertainment Limited during the 3rd quarter valued at about $3,739,000. 39.33% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Melco Crown Entertainment Limited (NASDAQ:MLCO)

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