Short Interest in Bally's Co. (NYSE:BALY) Expands By 274.6%

Bally's Co. (NYSE:BALY - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 83,900 shares, an increase of 274.6% from the March 15th total of 22,400 shares. Approximately 0.2% of the company's stock are sold short. Based on an average daily volume of 28,900 shares, the short-interest ratio is presently 2.9 days.

Bally's Stock Performance

BALY stock traded up $1.82 during midday trading on Friday, reaching $18.08. 23,571 shares of the company's stock traded hands, compared to its average volume of 338,389. 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 52-week low of $10.00 and a 52-week high of $18.98. The stock has a market cap of $876.96 million, a P/E ratio of -1.20 and a beta of 2.02. The stock's 50-day moving average is $15.37 and its 200 day moving average is $16.90.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. As a group, analysts anticipate that Bally's will post -7.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays lowered their price target 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. Citizens Jmp raised shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Regatta Capital Group LLC bought a new position in shares of Bally's during the 1st quarter valued at approximately $780,000. Two Sigma Advisers LP purchased a new position in Bally's during the fourth quarter valued at approximately $250,000. Man Group plc bought a new position in shares of Bally's in the fourth quarter worth approximately $5,187,000. K2 Principal Fund L.P. purchased a new stake in shares of Bally's in the fourth quarter worth $1,262,000. Finally, Eisler Capital Management Ltd. bought a new stake in shares of Bally's during the 4th quarter valued at $4,699,000. Institutional investors own 70.41% of the company's stock.

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.