Bally's (NYSE:BALY) Shares Down 5.7% - What's Next?

Bally's Corporation (NYSE:BALY - Get Free Report)'s stock price traded down 5.7% during mid-day trading on Monday . The stock traded as low as $10.36 and last traded at $10.34. 55,813 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 297,520 shares. The stock had previously closed at $10.97.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays cut 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 research report on Tuesday, May 13th. Truist Financial cut their target price on shares of Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.75.

Bally's Trading Up 0.2%

The firm's 50-day simple moving average is $10.25 and its 200-day simple moving average is $13.95. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 4.24. The firm has a market capitalization of $489.56 million, a PE ratio of -0.85 and a beta of 1.82.

Hedge Funds Weigh In On Bally's

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Bally's by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after acquiring an additional 860 shares during the last quarter. Invesco Ltd. raised its stake in shares of Bally's by 2.3% during the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company's stock valued at $2,533,000 after acquiring an additional 3,125 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Bally's during the fourth quarter valued at about $58,000. Bank of America Corp DE raised its stake in shares of Bally's by 17.2% during the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock valued at $553,000 after acquiring an additional 4,533 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Bally's by 1.4% during the fourth quarter. Hsbc Holdings PLC now owns 363,344 shares of the company's stock valued at $6,507,000 after acquiring an additional 5,147 shares during the last quarter. 70.41% of the stock is owned by institutional investors.

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.