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

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus decreased 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. Barclays decreased their price target on Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.13.

Hedge Funds Weigh In On Bally’s

Institutional investors and hedge funds have recently bought and sold shares of the business. Longfellow Investment Management Co. LLC acquired a new position in Bally’s in the third quarter worth $38,000. Point72 DIFC Ltd acquired a new position in Bally’s during the 3rd quarter worth about $48,000. BNP Paribas Financial Markets acquired a new position in Bally’s during the 4th quarter worth about $58,000. SG Americas Securities LLC lifted its position in Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after buying an additional 624 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Bally’s during the fourth quarter worth approximately $196,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Price Performance

Shares of BALY traded down $0.96 on Tuesday, hitting $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 market capitalization of $829.09 million, a PE ratio of -1.14 and a beta of 2.14. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. Bally’s has a fifty-two week low of $10.00 and a fifty-two week high of $18.98. The company has a 50 day moving average price of $17.01 and a 200 day moving average price of $17.37.

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.