Studio City Ih (NYSE:MSC) Stock Price Down 9.1% - Here's What Happened

Key Points

• Shares plunged about 9.1% intraday to $2.40 (from a prior close of $2.64), trading as low as $2.40 during Wednesday’s session.
• Volume was muted at roughly 2,744 shares, down about 54% from the average daily volume of 6,013 shares.
• Analyst and financial signals are negative: Weiss Ratings reaffirmed a "Sell (D-)" and the consensus rating is "Sell," while the company shows high leverage (debt-to-equity 3.53), weak liquidity (current ratio 0.73, quick ratio 0.68) and a negative P/E (-8.05) on a ~$526 million market cap.

Studio City Ih (NYSE:MSC - Get Free Report) shares dropped 9.1% during mid-day trading on Wednesday . The stock traded as low as $2.40 and last traded at $2.40. Approximately 2,744 shares changed hands during trading, a decline of 54% from the average daily volume of 6,013 shares. The stock had previously closed at $2.64.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Studio City Ih in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Studio City Ih Trading Down 9.5%

The company has a debt-to-equity ratio of 3.53, a current ratio of 0.73 and a quick ratio of 0.68. The firm has a market capitalization of $526.17 million, a PE ratio of -8.05 and a beta of 0.07. The company's fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.40.

About Studio City Ih

Studio City International Holdings Limited NYSE: MSC is a Cayman Islands–incorporated company that develops, owns and operates the Studio City integrated resort on the Cotai Strip in Macau. The business is principally engaged in gaming and non-gaming operations, including hotel accommodations, retail concessions, food and beverage outlets, live entertainment and themed attractions. Studio City is designed to cater to both mass-market and premium gaming customers while also appealing to family and leisure travelers through its entertainment and retail offerings.

The centerpiece of the company’s portfolio is the Studio City resort, which opened in October 2015 and features two landmark hotel towers, more than 1,600 guest rooms and suites, over 160,000 square feet of retail space, a range of dining concepts and convention facilities.

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