Studio City International Holdings Limited (NYSE:MSC) Brief Interest Update

Studio City International Holdings Limited (NYSE: MSC – Get a rating) benefited from a sharp drop in short-term interest rates in June. As of June 15, there was short interest totaling 3,600 shares, down 34.5% from the May 31 total of 5,500 shares. Based on an average daily volume of 75,000 shares, the day-to-cover ratio is currently 0.0 day.

MSC shares were down $0.11 on Friday, hitting $2.04. 2,777 shares were traded, against an average volume of 43,847. The company has a current ratio of 5.40, a quick ratio of 5.37 and a debt ratio of 2.12. The company has a market capitalization of $225.86 million, a PE ratio of -0.84 and a beta of -0.38. Studio City International has a one-year minimum of $1.69 and a one-year maximum of $24.41. The company’s 50-day moving average is $2.65 and its two-hundred-day moving average is $4.56.

An institutional investor recently increased his position in shares of Studio City International. Silver Point Capital LP increased its position in shares of Studio City International Holdings Limited (NYSE: MSC – Get a rating) by 90.8% in the first quarter, according to its latest filing with the Securities & Exchange Commission. The fund held 29,279,588 shares of the company after purchasing an additional 13,936,918 shares during the quarter. Studio City International represents approximately 8.6% of Silver Point Capital LP’s holdings, making it its 5th largest holding. Silver Point Capital LP owned approximately 26.44% of Studio City International worth $170,891,000 at the end of the most recent reporting period. 21.60% of the shares are held by hedge funds and other institutional investors.

Company Profile Studio City International (Get a rating)

Studio City International Holdings Limited operates a gaming, retail and entertainment complex in Cotai, Macau. The company operates Studio City Casino with 250 consumer gaming tables; approximately 947 slot machines; and 45 VIP chip tables. Its complex offers various non-gaming facilities, including approximately 1,600 luxury hotel rooms; food and drink outlets; Ferris wheel in the shape of an 8; a nightclub and karaoke; a 5,000-seat performance hall; and approximately 27,000 square meters of complementary retail space.

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