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

Bally’s Co. (NYSE:BALY) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 5,000 shares, a decrease of 26.5% from the February 13th total of 6,800 shares. Based on an average trading volume of 9,900 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of brokerages have recently commented on BALY. Barclays lowered their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus lowered their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating and one has given 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.

Bally’s Stock Performance

BALY traded down $0.96 during midday trading on Tuesday, reaching $17.13. The company’s stock had a trading volume of 70,640 shares, compared to its average volume of 369,518. The company has a fifty day simple moving average of $17.01 and a 200 day simple moving average of $17.37. The stock has a market cap of $829.09 million, a P/E ratio of -1.14 and a beta of 2.14. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally’s has a twelve month low of $10.00 and a twelve month high of $18.98.

Institutional Trading of Bally’s

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC bought a new position in Bally’s during the third quarter valued at about $38,000. Point72 DIFC Ltd bought a new stake in shares of Bally’s during the third quarter valued at approximately $48,000. BNP Paribas Financial Markets acquired a new position in shares of Bally’s in the fourth quarter valued at $58,000. SG Americas Securities LLC lifted its position in Bally’s by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after purchasing an additional 624 shares during the period. Finally, Intech Investment Management LLC bought a new position in Bally’s in the fourth quarter worth $196,000. 70.41% of the stock is currently 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.