Bally’s Co. (NYSE:BALY) Short Interest Update

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BALY. Vestcor Inc increased its position in Bally’s by 0.6% during the fourth 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 raised its position in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after buying an additional 624 shares during the period. Wells Fargo & Company MN lifted its holdings in Bally’s by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after acquiring an additional 860 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Bally’s during the third quarter worth $48,000. Finally, Invesco Ltd. raised its position in Bally’s by 2.3% in the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company’s stock valued at $2,533,000 after purchasing an additional 3,125 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Stock Down 13.7 %

Shares of BALY opened at $13.95 on Thursday. The stock has a 50 day moving average price of $16.84 and a 200 day moving average price of $17.34. Bally’s has a one year low of $10.00 and a one year high of $18.98. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The stock has a market capitalization of $676.47 million, a price-to-earnings ratio of -0.93 and a beta of 2.14.

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

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.