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

Shares of Studio City International Holdings Limited (NYSE:MSC) gapped down before the market opened on Thursday . The stock had previously closed at $3.22, but opened at $3.06. Studio City International shares last traded at $3.12, with a volume of 1,189 shares traded.

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 stock has a fifty day moving average of $3.57 and a 200-day moving average of $5.11. The stock has a market capitalization of $657.43 million, a price-to-earnings ratio of -6.78 and a beta of -0.35.

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

Hedge Funds Weigh In On Studio City International

An institutional investor recently bought a new position in Studio City International stock. Invesco Ltd. acquired a new stake in Studio City International Holdings Limited (NYSE:MSC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the company’s stock, valued at approximately $141,000.

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.