Short Interest in Bally’s Corporation (NYSE:BALY) Rises By 21.1%

Bally’s Corporation (NYSE:BALY) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 632,605 shares, a growth of 21.1% from the December 15th total of 522,467 shares. Based on an average daily volume of 119,054 shares, the days-to-cover ratio is currently 5.3 days. Approximately 5.1% of the company’s stock are short sold. Approximately 5.1% of the company’s stock are short sold. Based on an average daily volume of 119,054 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Investors Weigh In On Bally’s

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its stake in Bally’s by 9.9% in the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after buying an additional 916 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Bally’s in the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally’s in the second quarter worth about $38,000. Wolverine Asset Management LLC boosted its stake in shares of Bally’s by 35.8% in the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock worth $158,000 after acquiring an additional 4,345 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Bally’s by 2,087.9% during the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after purchasing an additional 7,579 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BALY. Barclays set a $11.00 price target on shares of Bally’s and gave the company an “underweight” rating in a report on Wednesday, December 17th. Stifel Nicolaus lifted their target price on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Macquarie upped their price target on Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Finally, Truist Financial lifted their price objective on Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, November 14th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $16.50.

Bally’s Stock Performance

Shares of NYSE BALY traded down $0.81 during midday trading on Tuesday, hitting $15.97. 76,863 shares of the stock traded hands, compared to its average volume of 80,572. The firm has a market capitalization of $784.84 million, a P/E ratio of -3.27 and a beta of 1.45. Bally’s has a one year low of $8.45 and a one year high of $22.41. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a 50-day moving average of $16.85 and a two-hundred day moving average of $13.58.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. The firm had revenue of $210.25 million for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. On average, equities analysts forecast that Bally’s will post -7.26 EPS for the current fiscal year.

Bally’s Company Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.