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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Melco Crown Entertainment (Nasdaq: MPEL) hit a new 52-week high Wednesday as it is currently trading at $16.22, above its previous 52-week high of $16.02 with 5.6 million shares traded as of 2:46 p.m. ET. Average volume has been 4.3 million shares over the past 30 days. Melco Crown Entertainment has a market cap of $8.38 billion and is part of the services sector and leisure industry. Shares are up 62.2% year to date as of the close of trading on Tuesday. Melco Crown Entertainment Limited, through its subsidiaries, engages in the development, ownership, and operation of casino gaming and entertainment resort facilities primarily in Macau. The company has a P/E ratio of 27.8, above the S&P 500 P/E ratio of 17.7.