Studio City International Holdings Limited (NYSE:MSC) Short Interest Update

Studio City International Holdings Limited (NYSE:MSCGet Rating) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 4,100 shares, a drop of 84.3% from the April 30th total of 26,100 shares. Based on an average daily volume of 22,400 shares, the days-to-cover ratio is presently 0.2 days.

NYSE:MSC traded up $0.07 on Friday, reaching $2.24. 13,820 shares of the stock traded hands, compared to its average volume of 16,808. The company has a market capitalization of $248.08 million, a price-to-earnings ratio of -0.89 and a beta of -0.39. The company has a current ratio of 5.40, a quick ratio of 5.37 and a debt-to-equity ratio of 2.12. Studio City International has a 12 month low of $1.69 and a 12 month high of $24.41. The company’s fifty day simple moving average is $4.45 and its 200 day simple moving average is $5.31.

Studio City International (NYSE:MSCGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $28.38 million for the quarter. Studio City International had a negative net margin of 286.51% and a negative return on equity of 23.78%.

A hedge fund recently raised its stake in Studio City International stock. Silver Point Capital L.P. increased its holdings in Studio City International Holdings Limited (NYSE:MSCGet Rating) by 90.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,279,588 shares of the company’s stock after buying an additional 13,936,918 shares during the quarter. Studio City International accounts for about 8.6% of Silver Point Capital L.P.’s investment portfolio, making the stock its 5th largest position. Silver Point Capital L.P. owned approximately 26.44% of Studio City International worth $170,891,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.60% of the company’s stock.

About Studio City International (Get Rating)

Studio City International Holdings Limited operates a gaming, retail, and entertainment resort in Cotai, Macau. The company operates Studio City Casino with 250 mass market gaming tables; approximately 947 gaming machines; and 45 VIP rolling chip tables. Its resort provides various non-gaming facilities, including approximately 1,600 luxury hotel rooms; food and beverage outlets; figure-8 Ferris wheel; a night club and karaoke; a 5,000-seat live performance arena; and approximately 27,000 square meters of complementary retail space.

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