Bally's (NYSE:BALY) Stock Price Up 21.2% - What's Next?

Bally's Co. (NYSE:BALY - Get Free Report) shares rose 21.2% on Friday . The company traded as high as $13.25 and last traded at $15.15. Approximately 57,076 shares were traded during trading, a decline of 82% from the average daily volume of 324,094 shares. The stock had previously closed at $12.50.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BALY shares. Barclays reduced their price objective on Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Stifel Nicolaus lowered their price objective on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Finally, Citizens Jmp raised shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Bally's presently has an average rating of "Hold" and a consensus target price of $17.13.

Bally's Stock Performance

The stock has a market capitalization of $558.11 million, a PE ratio of -0.76 and a beta of 2.04. The company's 50-day moving average price is $14.75 and its 200 day moving average price is $16.56. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Bally's (NYSE:BALY - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. On average, equities research analysts expect that Bally's Co. will post -7.26 earnings per share for the current fiscal year.

Institutional Trading of Bally's

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its stake in shares of Bally's by 88.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company's stock worth $18,916,000 after buying an additional 496,933 shares during the last quarter. Nexpoint Asset Management L.P. raised its position in Bally's by 88.3% in the 4th quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company's stock worth $14,461,000 after purchasing an additional 378,950 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Bally's by 6.3% in the fourth quarter. Alliancebernstein L.P. now owns 379,812 shares of the company's stock worth $6,795,000 after buying an additional 22,573 shares during the period. Gabelli Funds LLC boosted its holdings in Bally's by 7.5% during the 4th quarter. Gabelli Funds LLC now owns 369,934 shares of the company's stock valued at $6,618,000 after acquiring an additional 25,786 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Bally's by 1.4% during the 4th quarter. Hsbc Holdings PLC now owns 363,344 shares of the company's stock valued at $6,507,000 after buying an additional 5,147 shares during the period. 70.41% of the stock is owned by 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.