Short Interest in Bally’s Co. (NYSE:BALY) Grows By 348.0%

Bally’s Co. (NYSE:BALY) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,400 shares, an increase of 348.0% from the February 28th total of 5,000 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 24,200 shares, the days-to-cover ratio is currently 0.9 days.

Bally’s Stock Down 6.0 %

BALY stock opened at $11.88 on Friday. The stock has a market capitalization of $576.20 million, a price-to-earnings ratio of -0.79 and a beta of 2.14. The company has a 50-day moving average of $16.61 and a two-hundred day moving average of $17.28. Bally’s has a 52-week low of $10.00 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Barclays reduced their price target on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Stifel Nicolaus lowered their price objective on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock 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. Based on data from MarketBeat.com, Bally’s presently has a consensus rating of “Hold” and a consensus price target of $17.13.

Hedge Funds Weigh In On Bally’s

A number of institutional investors and hedge funds have recently bought and sold shares of BALY. Balyasny Asset Management L.P. grew its position in Bally’s by 88.7% in 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. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Bally’s in the third quarter valued at about $7,326,000. King Street Capital Management L.P. acquired a new stake in Bally’s during the third quarter worth about $6,784,000. Nexpoint Asset Management L.P. increased its stake in Bally’s by 88.3% during the fourth 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 period. Finally, Man Group plc acquired a new position in Bally’s in the 4th quarter valued at approximately $5,187,000. Institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

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.