Bally’s (NYSE:BALY) Trading 4.9% Higher – Still a Buy?

Bally’s Co. (NYSE:BALY)’s share price traded up 4.9% during mid-day trading on Monday . The stock traded as high as $12.63 and last traded at $12.72. 2,993 shares were traded during mid-day trading, a decline of 99% from the average session volume of 398,308 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays dropped their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday. Stifel Nicolaus dropped their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.63.

Bally’s Stock Up 28.9 %

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 stock has a market capitalization of $635.22 million, a price-to-earnings ratio of -1.04 and a beta of 2.05. The business has a fifty day moving average of $17.02 and a 200 day moving average of $17.34.

Institutional Investors Weigh In On Bally’s

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC grew its stake in Bally’s by 39.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock worth $2,294,000 after buying an additional 37,876 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Bally’s by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock worth $2,742,000 after acquiring an additional 8,040 shares during the period. Quest Partners LLC raised its stake in shares of Bally’s by 78.9% during the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock worth $337,000 after buying an additional 8,608 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Bally’s in the third quarter valued at about $26,665,000. Finally, Citigroup Inc. lifted its stake in Bally’s by 8.8% in the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after buying an additional 35,901 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Bally’s Company Profile

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.