Studio City International (NYSE:MSC) Trading 11.1% Higher – Here’s Why

Shares of Studio City International Holdings Limited (NYSE:MSC) were up 11.1% during mid-day trading on Thursday . The company traded as high as $2.94 and last traded at $3.07. 1,442 shares traded hands during trading, a decline of 82% from the average daily volume of 7,995 shares. The stock had previously closed at $2.76.

Studio City International Trading Up 14.3 %

The company’s 50-day moving average is $4.47 and its 200 day moving average is $5.72. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 3.19. The firm has a market cap of $664.81 million, a PE ratio of -6.86 and a beta of -0.41.

Studio City International (NYSE:MSC) last released its earnings results on Thursday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter. Studio City International had a negative net margin of 14.46% and a negative return on equity of 12.84%. The business had revenue of $152.86 million during the quarter.

Hedge Funds Weigh In On Studio City International

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

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.