Bally's Corporation (NYSE:BALY) Sees Significant Increase in Short Interest

Bally's Corporation (NYSE:BALY - Get Free Report) was the target of a large growth in short interest in the month of 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. Based on an average daily trading volume, of 67,400 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.3% of the company's shares are short sold.

Bally's Stock Down 2.1%

Bally's stock traded down $0.22 on Friday, hitting $9.87. 135,229 shares of the stock traded hands, compared to its average volume of 301,469. Bally's has a 1 year low of $8.46 and a 1 year high of $18.98. The business's fifty day simple moving average is $11.70 and its 200 day simple moving average is $14.91. The firm has a market cap of $483.48 million, a P/E ratio of -0.84 and a beta of 1.86. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 4.24.

Analyst Ratings Changes

Several brokerages have recently weighed in on BALY. Citizens Jmp upgraded Bally's to a "hold" rating in a report on Tuesday, March 18th. Barclays reduced 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. Finally, Stifel Nicolaus dropped their price target on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.96.

Hedge Funds Weigh In On Bally's

Several large investors have recently made changes to their positions in the business. Yakira Capital Management Inc. grew its stake in shares of Bally's by 40.9% during the fourth quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company's stock valued at $2,957,000 after buying an additional 47,943 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Bally's in the 4th quarter worth $401,000. Regatta Capital Group LLC purchased a new position in Bally's in the 1st quarter worth $780,000. Wolverine Asset Management LLC grew its position in Bally's by 30.3% during the 4th 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 period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Bally's by 54.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company's stock valued at $1,513,000 after acquiring an additional 30,000 shares during the period. 70.41% of the stock is currently owned by hedge funds and other 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.