Bally's Co. (NYSE:BALY) Short Interest Update

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. Based on an average trading volume of 57,900 shares, the short-interest ratio is presently 1.6 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BALY. BNP Paribas Financial Markets bought a new position in Bally's in the fourth quarter valued at approximately $58,000. SG Americas Securities LLC increased its stake in Bally's by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock valued at $170,000 after acquiring an additional 624 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Bally's during the fourth quarter worth $196,000. Spirepoint Private Client LLC bought a new stake in shares of Bally's during the first quarter worth $246,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Bally's during the fourth quarter worth $250,000. 70.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BALY shares. Barclays lowered their target price on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. Stifel Nicolaus lowered their target price on shares of Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $16.96.

Bally's Price Performance

NYSE:BALY remained flat at $9.73 during mid-day trading on Friday. 29,080 shares of the company were exchanged, compared to its average volume of 304,837. The business has a 50 day simple moving average of $12.42 and a 200-day simple moving average of $15.47. The stock has a market capitalization of $476.90 million, a PE ratio of -0.65 and a beta of 1.86. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally's has a fifty-two week low of $8.70 and a fifty-two week high of $18.98.

Bally's (NYSE:BALY - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 expect that Bally's will post -7.26 EPS for the current 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.