Bally’s (NYSE:BALY) Stock Price Down 13.6% Following Analyst Downgrade

Bally’s Co. (NYSE:BALY)’s stock price dropped 13.6% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $18.00 to $14.00. Barclays currently has an equal weight rating on the stock. Bally’s traded as low as $15.71 and last traded at $14.95. Approximately 21,940 shares were traded during trading, a decline of 94% from the average daily volume of 397,150 shares. The stock had previously closed at $17.30.

Separately, Stifel Nicolaus lowered their price target 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. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.13.

Institutional Trading of Bally’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vestcor Inc boosted its position in Bally’s by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company’s stock valued at $1,800,000 after acquiring an additional 594 shares during the last quarter. SG Americas Securities LLC boosted its position in Bally’s by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after acquiring an additional 624 shares during the last quarter. Wells Fargo & Company MN boosted its position in Bally’s by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after acquiring an additional 860 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Bally’s during the third quarter valued at $38,000. Finally, Point72 DIFC Ltd bought a new stake in Bally’s during the third quarter valued at $48,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Bally’s Stock Up 6.6 %

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 has a market cap of $749.90 million, a P/E ratio of -1.22 and a beta of 2.05. The stock’s 50-day simple moving average is $17.02 and its 200 day simple moving average is $17.35.

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.