Short Interest in Bally’s Co. (NYSE:BALY) Grows By 348.0%

Bally’s Co. (NYSE:BALY) saw a large growth in short interest during 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. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 24,200 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

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

Bally’s Stock Down 6.0 %

Shares of BALY stock traded down $0.76 on Friday, hitting $11.88. The stock had a trading volume of 26,526 shares, compared to its average volume of 28,135. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally’s has a one year low of $10.00 and a one year high of $23.20. The business has a 50 day moving average price of $16.73 and a 200 day moving average price of $17.31. The company has a market cap of $576.20 million, a PE ratio of -0.79 and a beta of 2.14.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BALY. Vestcor Inc grew its position in Bally’s by 0.6% during the 4th quarter. Vestcor Inc now owns 100,594 shares of the company’s stock worth $1,800,000 after purchasing an additional 594 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Bally’s by 7.0% during the fourth 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. Wells Fargo & Company MN grew its holdings in shares of Bally’s by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after buying an additional 860 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Bally’s in the 3rd quarter valued at $48,000. Finally, Invesco Ltd. raised its stake in Bally’s by 2.3% in the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company’s stock worth $2,533,000 after acquiring an additional 3,125 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.