Bally's (NYSE:BALY) Stock Price Up 5.6% - Here's Why

Bally's Co. (NYSE:BALY - Get Free Report) shares traded up 5.6% during trading on Friday . The stock traded as high as $14.60 and last traded at $14.88. 1,221 shares were traded during trading, a decline of 100% from the average session volume of 331,578 shares. The stock had previously closed at $14.09.

Analyst Upgrades and Downgrades

BALY has been the subject of several recent research reports. Barclays cut their price target on Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Stifel Nicolaus dropped their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Finally, Citizens Jmp raised shares of Bally's to a "hold" rating in a research note 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, Bally's currently has a consensus rating of "Hold" and an average price target of $17.13.

Bally's Trading Down 1.7 %

The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The business has a 50 day moving average of $15.14 and a two-hundred day moving average of $16.77. The firm has a market capitalization of $606.38 million, a price-to-earnings ratio of -0.83 and a beta of 2.02.

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

Hedge Funds Weigh In On Bally's

Several large investors have recently modified their holdings of BALY. Spirepoint Private Client LLC purchased a new position in Bally's in the 1st quarter valued at approximately $246,000. Regatta Capital Group LLC bought a new position in Bally's in the 1st quarter worth about $780,000. Two Sigma Advisers LP bought a new stake in shares of Bally's during the fourth quarter valued at about $250,000. Man Group plc bought a new position in shares of Bally's in the fourth quarter valued at approximately $5,187,000. Finally, K2 Principal Fund L.P. bought a new stake in Bally's during the 4th quarter worth approximately $1,262,000. Hedge funds and other 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.