Bally's (NYSE:BALY) Sees Unusually-High Trading Volume - Still a Buy?

Bally's Co. (NYSE:BALY - Get Free Report) saw strong trading volume on Tuesday . 119,799 shares were traded during trading, an increase of 204% from the previous session's volume of 39,363 shares.The stock last traded at $11.34 and had previously closed at $10.52.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citizens Jmp upgraded shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Stifel Nicolaus lowered their target price 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. Finally, Barclays lowered their target price on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Bally's has a consensus rating of "Hold" and a consensus price target of $16.96.

Bally's Stock Up 1.0%

The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The stock has a market cap of $493.12 million, a P/E ratio of -0.67 and a beta of 2.04. The stock's 50-day moving average is $12.75 and its 200-day moving average is $15.75.

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, beating analysts' consensus estimates of ($0.76) by $1.34. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. The company had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. As a group, research analysts anticipate that Bally's Co. will post -7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally's

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestcor Inc raised its position in shares of Bally's by 0.6% in the fourth quarter. Vestcor Inc now owns 100,594 shares of the company's stock valued at $1,800,000 after purchasing an additional 594 shares during the period. SG Americas Securities LLC grew its stake in shares of 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 acquiring an additional 624 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Bally's by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock worth $251,000 after acquiring an additional 860 shares during the last quarter. Invesco Ltd. boosted its stake in Bally's by 2.3% during the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company's stock worth $2,533,000 after buying an additional 3,125 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Bally's during the fourth quarter worth $58,000. 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.