Bally's (NYSE:BALY) Shares Gap Down - Should You Sell?

Shares of Bally's Co. (NYSE:BALY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $14.07, but opened at $13.70. Bally's shares last traded at $13.85, with a volume of 785 shares traded.

Analyst Ratings Changes

BALY has been the topic of a number of analyst reports. Citizens Jmp upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Barclays cut their target price on Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Finally, Stifel Nicolaus lowered their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.13.

Bally's Price Performance

The firm has a market capitalization of $792.17 million, a PE ratio of -1.08 and a beta of 2.02. 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 company has a fifty day moving average price of $15.25 and a two-hundred day moving average price of $16.90.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million during the quarter, compared to analysts' expectations of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. Sell-side analysts forecast that Bally's Co. will post -7.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vestcor Inc grew its holdings in shares of Bally's by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company's stock worth $1,800,000 after buying an additional 594 shares during the last quarter. 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 acquiring an additional 624 shares during the period. Wells Fargo & Company MN grew its stake in shares of Bally's by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after purchasing an additional 860 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Bally's by 2.3% in the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company's stock valued at $2,533,000 after purchasing an additional 3,125 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Bally's during the fourth quarter worth approximately $58,000. 70.41% of the stock is owned by hedge funds and other 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.