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

Bally’s Co. (NYSE:BALY) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,140,000 shares, an increase of 21.6% from the September 15th total of 1,760,000 shares. Approximately 9.1% of the company’s stock are sold short. Based on an average trading volume of 604,400 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Bally’s by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock worth $1,217,000 after buying an additional 1,064 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Bally’s by 0.8% during the 2nd quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock worth $2,047,000 after purchasing an additional 1,376 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares during the period. PEAK6 Investments LLC raised its stake in Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after purchasing an additional 4,446 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Bally’s during the third quarter worth about $153,000. 70.41% of the stock is owned by institutional investors.

Bally’s Stock Performance

Shares of NYSE BALY opened at $17.50 on Wednesday. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58. The firm has a market cap of $708.49 million, a price-to-earnings ratio of -1.69 and a beta of 2.08. The stock’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $14.62. Bally’s has a one year low of $7.28 and a one year high of $18.00.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.23. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. The business had revenue of $621.66 million for the quarter, compared to the consensus estimate of $641.17 million. During the same period in the prior year, the company posted ($0.25) earnings per share. Bally’s’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Bally’s will post -5.32 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group increased their price target on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “hold” rating and set a $18.25 price target (up previously from $16.00) on shares of Bally’s in a report on Friday, July 26th. JMP Securities restated a “market perform” rating on shares of Bally’s in a research note on Monday, July 15th. Finally, Barclays lifted their target price on Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Bally’s currently has an average rating of “Hold” and an average price target of $17.14.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.