Bally's Co. (NYSE:BALY) Short Interest Up 27.1% in May

Bally's Co. (NYSE:BALY - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 93,300 shares, a growth of 27.1% from the April 30th total of 73,400 shares. Approximately 1.0% of the company's shares are short sold. Based on an average daily volume of 57,900 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

BALY has been the subject of several research analyst reports. Citizens Jmp raised shares of Bally's to a "hold" rating in a research report on Tuesday, March 18th. Stifel Nicolaus lowered their price target on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Finally, Barclays reduced their price objective on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.96.

Hedge Funds Weigh In On Bally's

Several large investors have recently bought and sold shares of the stock. Spirepoint Private Client LLC acquired a new position in shares of Bally's in the 1st quarter worth approximately $246,000. Regatta Capital Group LLC acquired a new stake in shares of Bally's during the first quarter worth approximately $780,000. Two Sigma Advisers LP acquired a new stake in Bally's in the fourth quarter valued at approximately $250,000. Man Group plc acquired a new stake in Bally's in the fourth quarter valued at approximately $5,187,000. Finally, K2 Principal Fund L.P. acquired a new stake in Bally's in the fourth quarter valued at approximately $1,262,000. Institutional investors and hedge funds own 70.41% of the company's stock.

Bally's Stock Performance

Shares of NYSE BALY traded up $0.21 during midday trading on Wednesday, hitting $9.01. The company's stock had a trading volume of 66,123 shares, compared to its average volume of 304,884. The firm has a market cap of $441.61 million, a P/E ratio of -0.60 and a beta of 1.86. The firm's fifty day moving average price is $12.59 and its 200-day moving average price is $15.63. Bally's has a 1-year low of $8.70 and a 1-year high of $18.98. 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 issued its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to the consensus estimate of $589.83 million. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. On average, sell-side analysts forecast that Bally's will post -7.26 EPS for the current fiscal year.

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.