Studio City International (NYSE:MSC) Stock Price Down 9% – Here’s Why

Studio City International Holdings Limited (NYSE:MSC)’s stock price dropped 9% during mid-day trading on Monday . The stock traded as low as $5.77 and last traded at $5.90. Approximately 2,891 shares were traded during trading, a decline of 50% from the average daily volume of 5,817 shares. The stock had previously closed at $6.48.

Studio City International Stock Performance

The company has a 50-day moving average of $6.39 and a 200 day moving average of $6.46. The firm has a market capitalization of $653.25 million, a PE ratio of -12.83 and a beta of -0.42. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 3.19.

Studio City International (NYSE:MSC) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) EPS for the quarter. The company had revenue of $174.63 million during the quarter. Studio City International had a negative return on equity of 12.84% and a negative net margin of 14.46%.

Institutional Trading of Studio City International

A hedge fund recently raised its stake in Studio City International stock. Walleye Capital LLC increased its position in Studio City International Holdings Limited (NYSE:MSC) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,000 shares of the company’s stock after buying an additional 10,392 shares during the quarter. Walleye Capital LLC owned 0.06% of Studio City International worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Studio City International Company Profile

Studio City International Holdings Limited operates an entertainment resort in Macau. It operates Studio City Casino, comprising gaming tables, including tables for VIP rolling chip operations and gaming machines; and resort, which offers various non-gaming attractions, including figure-8 ferris wheel, night club and karaoke venue, live performance arena, and an outdoor and indoor water park, as well as hotel rooms and various food and beverage establishments, and retail space.