Short Interest in Bally’s Co. (NYSE:BALY) Rises By 27.1%

Bally’s Co. (NYSE:BALY) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 93,300 shares, an increase of 27.1% from the April 30th total of 73,400 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.0% of the shares of the company are short sold.

Bally’s Trading Down 2.3%

Shares of BALY opened at $9.80 on Tuesday. Bally’s has a 52-week low of $9.11 and a 52-week high of $18.98. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The firm’s fifty day moving average is $12.67 and its two-hundred day moving average is $15.68. The stock has a market cap of $480.33 million, a PE ratio of -0.65 and a beta of 2.04.

Bally’s (NYSE:BALY) last announced its earnings results on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $1.34. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. The company had revenue of $580.37 million for the quarter, compared to analysts’ expectations of $589.83 million. Research analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in BALY. Balyasny Asset Management L.P. boosted its stake in Bally’s by 88.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock worth $18,916,000 after purchasing an additional 496,933 shares during the last quarter. Nexpoint Asset Management L.P. boosted its position in shares of Bally’s by 88.3% during the 4th quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after acquiring an additional 378,950 shares during the last quarter. Man Group plc acquired a new position in shares of Bally’s during the 4th quarter valued at about $5,187,000. Eisler Capital Management Ltd. acquired a new position in shares of Bally’s during the 4th quarter valued at about $4,699,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Bally’s during the 4th quarter valued at about $2,005,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BALY. Citizens Jmp raised shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Barclays cut their target price on shares of 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 cut their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.96.

About Bally’s

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.