Stocks of Melco Crown Entertainment Limited (NASDAQ:MPEL) rallied by 2.91% during the past week but lost 1.19% on a 4-week basis. The company has outperformed the S&P 500 by 4.15% in the past week but underperformed the index by 2.09% in the last 4 weeks.
Melco Crown Entertainment Limited (NASDAQ:MPEL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.86 and $13.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.13, notching a gain of 2.24% for the day. The total traded volume was 2,083,463 . The stock had closed at $13.82 on the previous day.
The company shares have dropped -27.01% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $24.00 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.41 and the 200 Day Moving Average price is recorded at $15.26.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Nomura maintains the rating on Melco Crown Entertainment Limited (NASDAQ:MPEL). The brokerage firm has issued a Reduce rating on the shares. The Analysts at the ratings agency lowers the price target from $16 per share to $14 per share. The rating by the firm was issued on May 5, 2016. Institutional Investors own 27.08% of Melco Crown Entertainment Limited shares.
Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines. The Company has two casino based operations in Macau, namely, City of Dreams and Altira Macau, and non-casino based operations in Macau at its Mocha Clubs. The Company also has a casino based operation in the Philippines, City of Dreams Manila. The Company is developing the Studio City project, a cinematically-themed integrated entertainment, retail and gaming resort. The Companys other premises include Taipa Square Casino, a casino on Taipa Island, Macau operating within Hotel Taipa Square, including the fit-out and gaming related equipment.