There was a lot of controversy when Packer started selling part of his stake and the shorts were all over that. But in truth the company was and is buying back these shares which the market ignored. Now the sentiment appears to be shifting back as MPEL leads the Big 4 today in a down market. Nice early morning volume
This moved the needle this morning now pulling back with the other gaming stocks MPEL upgraded from Neutral to a buy from Bofa/Merril http://finance.yahoo.com/q/ud?bypass=true&s=MPEL<r=1
As the markets are down MPEL leads the Big 4 again today on expectations of good Macau numbers for January aside from the two upgrades yesterday
MPEL giving back some it's gains from yesterday. As I wrote in the gaming thread it appears to be on a Macau proposed ban on casino workers not being able to gamble in the casinos on their off hours. At least it is on low volume
After yesterdays' give back MPEL, the only gaming stock that is up this morning amid the market meltdown
With this I am looking forward to the ER and no profit taking until I am locked in to the yield Melco Crown Entertainment (MPEL) Declares $1.3212 Special Dividend; 7.9% Yield; Amends Dividend Policy Melco Crown Entertainment (NASDAQ: MPEL) declared a special dividend of $1.3212 per share. The dividend will be payable on February 10, 2017, to stockholders of record on January 23, 2017, with an ex-dividend date of January 19, 2017. The annual yield on the dividend is 7.9 percent. http://www.streetinsider.com/Corpor...%+Yield;+Amends+Dividend+Policy/12419303.html
With gaming selling off Friday MPEL only give back 4 cents from the big gain it had last week. Regarding the Special Dividend of $132.12 they also increased their quarterly divi from .03 to .09. The Macau January numbers have got off to a good start and we could see a good catalyst when the final tally comes in for January. When you add this to the share buy back I feel pretty confident going into earnings that all is good.
Macau’s casino VIP GGR up 13 pct in 4Q: govt http://www.ggrasia.com/macaus-casino-vip-ggr-up-13-pct-in-4q-govt/
MPEL giving back a little this morning from it's big run but chart still looking good Not in real time
Price adjusted for ex-dividend today of 1.32. For those of us that bought before it will have the same dollar value with the added shares plus the gain today and future gains
Even with the price adjustment I expect MPEL to break 18 in the near to mid term as it led the gaming sector today. Rooms are booked full for the Chinese New Year in Macau
Win/Win for those holding and new buyers $17.75 was the closing price before the special divi and price adjustment. If you held your share count it will soon increase and if you bought the adjustment (opened @16.91) you done well.
I'm looking for a good entry point on MPEL as I've missed out a couple of times. Think this can fall into the mid 16s Tip?
Obviously TTT is the expert, but I would be targeting an entry off this support line that held when I posted it the beginning of this page. (see post #121). Might have to wait a bit, but if I was going to play MPEL, that would be my entry point. I'm already in WYNN so I'll stick with that for gaming industry for now. Good luck with whatever you decide!
