Studio City International Holdings Limited (NYSE:MSC – Get Rating)’s share price was up 2.3% during trading on Wednesday . The company traded as high as $2.33 and last traded at $2.21. Approximately 40,336 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 45,747 shares. The stock had previously closed at $2.16.
The stock has a 50 day moving average of $3.35 and a 200 day moving average of $4.87. The company has a quick ratio of 5.37, a current ratio of 5.40 and a debt-to-equity ratio of 2.12.
An institutional investor recently raised its position in Studio City International stock. Silver Point Capital L.P. increased its stake in shares of Studio City International Holdings Limited (NYSE:MSC – Get Rating) by 90.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 8.6% of Silver Point Capital L.P.’s investment portfolio, making the stock its 5th largest holding. Silver Point Capital L.P. owned 26.44% of Studio City International worth $170,891,000 as of its most recent filing with the Securities and Exchange Commission. 21.60% of the stock is currently owned by institutional investors.
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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