Studio City International (NYSE:MSC) Shares Gap Up – Here’s Why

Studio City International Holdings Limited (NYSE:MSC) gapped up prior to trading on Wednesday . The stock had previously closed at $4.66, but opened at $4.80. Studio City International shares last traded at $4.80, with a volume of 240 shares.

Studio City International Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 3.19. The company has a market capitalization of $500.45 million, a price-to-earnings ratio of -9.83 and a beta of -0.38. The stock’s 50-day simple moving average is $6.26 and its two-hundred day simple moving average is $6.39.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Studio City International stock. Walleye Capital LLC grew its holdings in Studio City International Holdings Limited (NYSE:MSC) by 19.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,000 shares of the company’s stock after buying an additional 10,392 shares during the period. Walleye Capital LLC owned 0.06% of Studio City International worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

About Studio City International

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.