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

Bally’s Co. (NYSE:BALY) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,590,000 shares, a decrease of 56.4% from the October 31st total of 3,650,000 shares. Based on an average daily volume of 409,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 6.3% of the company’s shares are short sold.

Analysts Set New Price Targets

BALY has been the topic of a number of recent analyst reports. Barclays raised their target price on Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group upped their target price on shares of Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.14.

Bally’s Stock Up 0.1 %

NYSE BALY traded up $0.02 during trading hours on Thursday, reaching $17.76. 381,688 shares of the company’s stock were exchanged, compared to its average volume of 466,060. 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 company has a market capitalization of $722.25 million, a price-to-earnings ratio of -1.18 and a beta of 2.07. The company’s 50-day moving average is $17.52 and its two-hundred day moving average is $15.49. Bally’s has a one year low of $9.74 and a one year high of $18.00.

Institutional Investors Weigh In On Bally’s

Several large investors have recently made changes to their positions in BALY. Vanguard Group Inc. boosted its stake in Bally’s by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock worth $23,912,000 after purchasing an additional 44,460 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Bally’s during the second quarter worth about $560,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Bally’s during the second quarter worth about $843,000. Wolverine Asset Management LLC raised its position in Bally’s by 39.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock valued at $2,294,000 after buying an additional 37,876 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new stake in Bally’s in the 3rd quarter valued at approximately $26,665,000. Institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.