Bally’s Co. (NYSE:BALY) Short Interest Up 21.6% in September

Bally’s Co. (NYSE:BALY) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,140,000 shares, a growth of 21.6% from the September 15th total of 1,760,000 shares. Based on an average daily trading volume, of 604,400 shares, the short-interest ratio is presently 3.5 days. Approximately 9.1% of the company’s stock are short sold.

Bally’s Stock Performance

BALY traded down $0.01 on Monday, hitting $17.48. 3,465 shares of the stock traded hands, compared to its average volume of 469,197. The business has a fifty day moving average price of $17.21 and a two-hundred day moving average price of $14.57. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 9.28. Bally’s has a 52 week low of $7.28 and a 52 week high of $18.00. The firm has a market capitalization of $707.68 million, a PE ratio of -1.69 and a beta of 2.08.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, July 31st. The company reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.23. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The business had revenue of $621.66 million during the quarter, compared to analyst estimates of $641.17 million. During the same period in the prior year, the company posted ($0.25) earnings per share. Bally’s’s revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Bally’s will post -5.32 EPS for the current fiscal year.

Institutional Trading of Bally’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in Bally’s during the second quarter worth $131,000. SG Americas Securities LLC acquired a new stake in shares of Bally’s during the 3rd quarter worth about $153,000. Pekin Hardy Strauss Inc. bought a new position in Bally’s during the 2nd quarter valued at about $217,000. Price T Rowe Associates Inc. MD boosted its position in Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock valued at $281,000 after buying an additional 1,394 shares in the last quarter. Finally, PEAK6 Investments LLC grew its stake in Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial reiterated a “hold” rating and set a $18.25 price target (up previously from $16.00) on shares of Bally’s in a report on Friday, July 26th. Jefferies Financial Group lifted their target price on shares of Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $11.00 to $18.25 in a report on Monday, July 29th. JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Finally, TD Cowen restated a “hold” rating and set a $18.25 target price (up previously from $15.00) on shares of Bally’s in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.14.

About Bally’s

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.