Bally’s Co. (NYSE:BALY) Sees Significant Growth in Short Interest

Bally’s Co. (NYSE:BALY) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 22,400 shares, a growth of 348.0% from the February 28th total of 5,000 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 24,200 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Bally’s

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Bally’s during the 3rd quarter valued at about $48,000. BNP Paribas Financial Markets purchased a new stake in Bally’s in the fourth quarter valued at approximately $58,000. SG Americas Securities LLC increased its holdings in Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after buying an additional 624 shares during the period. Intech Investment Management LLC purchased a new position in Bally’s during the 4th quarter worth approximately $196,000. Finally, Two Sigma Advisers LP acquired a new stake in Bally’s during the 4th quarter valued at approximately $250,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

Bally’s Trading Down 13.7 %

Shares of NYSE:BALY opened at $13.95 on Thursday. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The firm has a market capitalization of $676.47 million, a P/E ratio of -0.93 and a beta of 2.14. The business’s 50-day moving average is $16.84 and its 200 day moving average is $17.34. Bally’s has a 1 year low of $10.00 and a 1 year high of $18.98.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. On average, research analysts predict that Bally’s will post -7.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BALY has been the topic of several research reports. Stifel Nicolaus cut their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Barclays reduced their price target on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Citizens Jmp raised Bally’s to a “hold” rating in a research report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bally’s has a consensus rating of “Hold” and a consensus price target of $17.13.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.