Bally's (NYSE:BALY) Shares Down 7.2% - Time to Sell?

Bally's Corporation (NYSE:BALY - Get Free Report) shares fell 7.2% on Tuesday . The stock traded as low as $10.18 and last traded at $10.31. 76,362 shares were traded during trading, a decline of 74% from the average session volume of 298,422 shares. The stock had previously closed at $11.11.

Wall Street Analysts Forecast Growth

Several research firms have commented on BALY. Barclays dropped their price target on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Citizens Jmp raised Bally's to a "hold" rating in a research report on Tuesday, March 18th. Seven 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 stock presently has an average rating of "Hold" and an average price target of $16.96.

Bally's Trading Up 0.3%

The firm has a market capitalization of $541.07 million, a price-to-earnings ratio of -0.94 and a beta of 1.82. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.72 and a current ratio of 0.75. The company has a 50-day moving average price of $10.47 and a 200-day moving average price of $14.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. 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 purchasing an additional 594 shares during the last quarter. Wells Fargo & Company MN boosted its holdings 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 valued at $251,000 after acquiring an additional 860 shares during the period. Invesco Ltd. grew its position in shares of 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 acquiring an additional 3,125 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Bally's in the 4th quarter valued at $58,000. Finally, Bank of America Corp DE grew its position in Bally's by 17.2% during the 4th quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock worth $553,000 after purchasing an additional 4,533 shares during the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

Bally's Company Profile

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.