Is Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) the right investment to pursue these days? Hedge funds are becoming more confident. The number of long hedge fund bets went up by 1 recently.
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Now, let’s take a peek at the latest action surrounding Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL).
How have hedgies been trading Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL)?
At year’s end, a total of 37 of the hedge funds we track were long in this stock, a change of 3% from the third quarter. With the smart money’s capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes meaningfully.
When looking at the hedgies we track, OZ Management, managed by Daniel S. Och, holds the biggest position in Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL). OZ Management has a $155 million position in the stock, comprising 0.6% of its 13F portfolio. On OZ Management’s heels is Luxor Capital Group, managed by Christian Leone, which held a $142 million position; the fund has 5% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include J Kevin Kenny Jr’s Emerging Sovereign Group, Brian Kelly’s Asian Century Quest and Rob Citrone’s Discovery Capital Management.
As industrywide interest jumped, key money managers have jumped into Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) headfirst. Emerging Sovereign Group, managed by J Kevin Kenny Jr, created the biggest position in Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL). Emerging Sovereign Group had 74 million invested in the company at the end of the quarter. John Thaler’s JAT Capital Management also made a $37 million investment in the stock during the quarter. The following funds were also among the new MPEL investors: Jim Simons’s Renaissance Technologies, Donald Chiboucis’s Columbus Circle Investors, and Malcolm Fairbairn’s Ascend Capital.
What do corporate executives and insiders think about Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL)?
Insider trading activity, especially when it’s bullish, is best served when the company in focus has experienced transactions within the past 180 days. Over the latest half-year time period, Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
With the returns exhibited by our strategies, retail investors should always monitor hedge fund and insider trading sentiment, and Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) shareholders fit into this picture quite nicely.
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