Short Interest in Bally's Corporation (NYSE:BALY) Increases By 25.4%

Bally's Corporation (NYSE:BALY - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 117,000 shares, a growth of 25.4% from the May 15th total of 93,300 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 67,400 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

Several brokerages have weighed in on BALY. Barclays dropped their price objective on Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus reduced their price target 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 upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.96.

Bally's Trading Up 6.8%

BALY traded up $0.63 on Wednesday, hitting $9.96. 159,594 shares of the company were exchanged, compared to its average volume of 301,680. The firm has a fifty day simple moving average of $11.90 and a two-hundred day simple moving average of $15.02. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.72 and a current ratio of 0.75. Bally's has a 12 month low of $8.46 and a 12 month high of $18.98. The stock has a market capitalization of $488.37 million, a PE ratio of -0.85 and a beta of 1.86.

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, topping analysts' consensus estimates of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. Bally's had a negative return on equity of 34.11% and a negative net margin of 16.95%. Sell-side analysts expect that Bally's will post -7.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alberta Investment Management Corp raised its stake in shares of Bally's by 54.0% in the fourth quarter. Alberta Investment Management Corp now owns 38,503 shares of the company's stock worth $689,000 after purchasing an additional 13,503 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Bally's by 30.3% in the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company's stock worth $3,099,000 after purchasing an additional 40,250 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Bally's in the fourth quarter worth $401,000. Vestcor Inc raised its stake in shares of Bally's by 0.6% in 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. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Bally's by 54.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company's stock worth $1,513,000 after purchasing an additional 30,000 shares during the last quarter. 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.

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