Studio City Ih (NYSE:MSC) Sees Large Growth in Short Interest

Key Points

• Short interest surged 691.8% to 47,840 shares as of October 15, up from 6,042 shares at the end of September. Still, only about 0.1% of outstanding shares were sold short, with a 0.5-day days-to-cover ratio.
• Studio City Ih carries an average analyst rating of “Sell”, while the stock opened at $0.81 and remained near its one-year low of $0.75, well below its 50-day and 200-day moving averages.
• Director Lawrence Ho bought 1.04 million shares for approximately $208,720, and insiders collectively own 54.9% of the company. The latest quarter showed a smaller-than-expected loss but revenue below analyst forecasts.

Studio City Ih (NYSE:MSC - Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 47,840 shares, a growth of 691.8% from the September 30th total of 6,042 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 91,988 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Studio City Ih in a research note on Friday, September 25th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of "Sell".

Insider Buying and Selling at Studio City Ih

In related news, Director Lawrence Yau Lung Ho acquired 1,043,600 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $0.20 per share, with a total value of $208,720.00. Following the completion of the transaction, the director directly owned 463,391,904 shares of the company's stock, valued at $92,678,380.80. This trade represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 54.90% of the stock is owned by insiders.

Studio City Ih Stock Performance

MSC opened at $0.81 on Tuesday. The business has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $2.22. The company has a market capitalization of $170.05 million, a PE ratio of -2.88 and a beta of 0.13. Studio City Ih has a 1 year low of $0.75 and a 1 year high of $4.61. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.76 and a quick ratio of 0.72.

Studio City Ih (NYSE:MSC - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.34. Studio City Ih had a negative return on equity of 9.26% and a negative net margin of 7.79%. The firm had revenue of $164.56 million for the quarter, compared to analyst estimates of $190.12 million. During the same period in the prior year, the firm posted ($0.02) EPS.

Studio City Ih Company Profile

Studio City International Holdings Limited develops and operates Studio City, an integrated resort located in Cotai, Macau. The property combines casino gaming with hospitality, entertainment, dining, retail and leisure attractions, serving visitors to Macau's tourism and gaming market.

Studio City's offerings include hotel accommodations, gaming facilities, restaurants, shops, event and entertainment venues, and family-oriented attractions. The resort was developed in phases, with the initial property opening in 2015 and additional hotel, entertainment, retail and leisure facilities added through its subsequent expansion.

Studio City International Holdings is majority-owned by Melco Resorts & Entertainment Limited and focuses primarily on the operation and continued development of its Macau integrated resort.

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