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Melco Crown Entertainment Limited (NASDAQ: MLCO – Get a rating) was the recipient of an unusually large option trade on Tuesday. Stock traders won 38,229 call options on the stock. This is an 874% increase compared to the typical number of 3,923 call options.
Institutional inflows and outflows
Some hedge funds have recently bought and sold MLCO stock. ExodusPoint Capital Management LP bought a stake in Melco Crown Entertainment for $422,000 in the second quarter. Goldman Sachs Group increased its stake in Melco Crown Entertainment by 158.0% in the second quarter. Goldman Sachs Group Inc. now owns 2,418,255 shares of the company’s stock valued at $13,905,000 after buying an additional 1,480,864 shares in the previous quarter. The Colorado Public Employees Retirement Association increased its stake in Melco Crown Entertainment by 21.0% in the second quarter. The Colorado Public Employees’ Retirement Association now owns 82,638 shares of the company’s stock, valued at $475,000, after purchasing an additional 14,367 shares in the previous quarter. Collaborative Holdings Management LP bought a stake in Melco Crown Entertainment for $3,581,000 in the second quarter. Finally, Creative Planning purchased a stake in Melco Crown Entertainment for $105,000 in the second quarter. 35.87% of the stock is currently held by hedge funds and other institutional investors.
Melco Crown Entertainment shares rose 11.4%
Nasdaq MLCO It was up 79 cents at $7.73 in Tuesday’s session. The company’s stock was traded at 6,012,228 shares, compared to its average volume of 4,485,206 shares. Melco Crown Entertainment’s 52-week low was $4.06 and its 52-week high was $12.40. The company’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $5.87. The company’s current ratio is 2.36, its quick ratio is 2.33, and its debt-to-equity ratio is 21.09. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -4.39, and a beta of 1.25.
Melco Crown Entertainment (NASDAQ: MLCO – Get a rating) last reported quarterly earnings results on Thursday, August 18. The company reported earnings per share ($0.51) for the quarter, beating analysts’ consensus estimate ($0.52) by $0.01. The company’s revenue for the quarter was $296.11 million, compared with analysts’ expectations of $383.51 million. Melco Crown Entertainment’s net profit margin was negative 48.76% and return on equity was negative 106.14%. Research analysts expect Melco Crown Entertainment to post earnings per share of -1.88 for the current fiscal year.
Analyst Rating Changes
Several research analysts have commented on the company recently. Citigroup raised its price target on Melco Crown Entertainment to $11.50 from $11.00 in a report on Monday, Sept. 26, and gave the company a “buy” rating. Stock News Network In a report on Thursday, September 15, Melco Crown Entertainment was upgraded to a “sell” rating. One investment analyst has a sell rating on the stock, one has a hold rating and three have a buy rating on the company. The company currently has a “hold” consensus rating and an average price target of $12.25, according to MarketBeat.
About Melco Crown Entertainment
Melco Crown Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and casino resort facilities in Asia. Owns and operates City of Dreams, an integrated casino resort with 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; approximately 2,000-seat wet stage performance theater; approximately 30 restaurants and bars, and 150 retail stores; recreational facilities including health clubs, swimming pools, spas and salons, and banquet and meeting facilities.
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