Studio City Ih (NYSE:MSC) Shares Shorted: Short Interest Up 691.8% in October

Studio City Ih (NYSE:MSC) was the target of a significant growth in short interest in 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 company’s stock are short sold. Based on an average daily volume of 91,988 shares, the short-interest ratio is presently 0.5 days.

Insider Activity at Studio City Ih

In other news, Director Lawrence Yau Lung Ho purchased 1,043,600 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $0.20 per share, for a total transaction of $208,720.00. Following the acquisition, the director owned 463,391,904 shares of the company’s stock, valued at $92,678,380.80. The trade was a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 54.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Studio City Ih in a research report on Friday, September 25th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Studio City Ih Trading Down 0.5%

Shares of MSC stock opened at $0.79 on Thursday. Studio City Ih has a 1 year low of $0.75 and a 1 year high of $4.61. The firm has a market capitalization of $166.49 million, a PE ratio of -2.82 and a beta of 0.13. The stock has a fifty day moving average of $1.23 and a two-hundred day moving average of $2.19. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.72 and a current ratio of 0.76.

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

About Studio City Ih

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.