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

Bally’s Co. (NYSE:BALY – Get Rating) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,130,000 shares, an increase of 21.7% from the March 31st total of 1,750,000 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average daily volume of 553,200 shares, the days-to-cover ratio is presently 3.9 days.

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Bally’s by 7.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 21,574 shares of the company’s stock worth $663,000 after purchasing an additional 1,456 shares during the period. Garnet Equity Capital Holdings Inc. increased its stake in Bally’s by 387.1% in the 1st quarter. Garnet Equity Capital Holdings Inc. now owns 75,500 shares of the company’s stock worth $2,321,000 after purchasing an additional 60,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Bally’s by 31.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,217,555 shares of the company’s stock worth $37,427,000 after purchasing an additional 290,210 shares during the period. Tealwood Asset Management Inc. increased its stake in Bally’s by 238.2% in the 1st quarter. Tealwood Asset Management Inc. now owns 35,650 shares of the company’s stock worth $1,096,000 after purchasing an additional 25,109 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Bally’s by 7.3% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 522,887 shares of the company’s stock worth $16,074,000 after buying an additional 35,630 shares during the last quarter. 72.98% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Zacks Investment Research raised Bally’s from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday. Truist Financial lowered their price target on Bally’s from $53.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Cowen lowered their price target on Bally’s from $75.00 to $58.00 in a report on Friday, February 25th. Jefferies Financial Group cut Bally’s from a “buy” rating to a “hold” rating and lowered their price target for the company from $54.00 to $38.00 in a report on Monday, February 28th. Finally, Stifel Nicolaus lowered their price target on Bally’s from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Bally’s currently has an average rating of “Buy” and an average target price of $49.63.

Shares of NYSE BALY opened at $30.07 on Thursday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -28.10 and a beta of 1.99. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. Bally’s has a 1-year low of $26.11 and a 1-year high of $59.94. The stock’s 50-day moving average is $30.70 and its 200 day moving average is $36.22.

Bally’s (NYSE:BALY – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.49). The firm had revenue of $547.60 million for the quarter, compared to analysts’ expectations of $587.33 million. Bally’s had a negative net margin of 5.43% and a positive return on equity of 3.37%. The business’s quarterly revenue was up 363.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. On average, analysts forecast that Bally’s will post -1.06 EPS for the current fiscal year.

Bally’s Company Profile (Get Rating)

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

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