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

Bally’s Co. (NYSE:BALY) was the target of a significant increase in short interest in 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. Based on an average daily volume of 604,400 shares, the short-interest ratio is currently 3.5 days. Approximately 9.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BALY. SG Americas Securities LLC acquired a new stake in Bally’s in the 3rd quarter valued at about $153,000. Quest Partners LLC acquired a new stake in shares of Bally’s in the second quarter valued at approximately $131,000. Pekin Hardy Strauss Inc. bought a new position in Bally’s in the 2nd quarter worth approximately $217,000. Price T Rowe Associates Inc. MD raised its position in Bally’s by 7.4% in the 1st 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 last quarter. Finally, PEAK6 Investments LLC lifted its holdings in Bally’s by 20.2% during the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

Bally’s Stock Performance

NYSE BALY opened at $17.50 on Wednesday. Bally’s has a 1-year low of $7.28 and a 1-year high of $18.00. The company has a 50 day moving average of $17.23 and a 200-day moving average of $14.62. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 9.28. The firm has a market cap of $708.49 million, a price-to-earnings ratio of -1.69 and a beta of 2.08.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BALY shares. JMP Securities reiterated a “market perform” rating on shares of Bally’s in a research note on Monday, July 15th. Stifel Nicolaus increased their price target on shares of Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays raised their price target on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “hold” rating and issued a $18.25 price objective (up from $16.00) on shares of Bally’s in a research note on Friday, July 26th. Finally, TD Cowen restated a “hold” rating and set a $18.25 target price (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Bally’s currently has a consensus rating of “Hold” and an average target price of $17.14.

About Bally’s

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.