Bally’s (NYSE:BALY) Stock Price Up 4.9% – What’s Next?

Bally’s Co. (NYSE:BALY) traded up 4.9% during trading on Monday . The stock traded as high as $12.63 and last traded at $12.72. 2,993 shares changed hands during trading, a decline of 99% from the average session volume of 398,308 shares. The stock had previously closed at $12.12.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Barclays reduced their price objective on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday. Six investment 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 has an average rating of “Hold” and an average price target of $17.13.

Bally’s Stock Performance

The company has a market cap of $749.90 million, a PE ratio of -1.22 and a beta of 2.05. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The stock’s 50-day simple moving average is $17.02 and its 200 day simple moving average is $17.35.

Institutional Investors Weigh In On Bally’s

A number of large investors have recently added to or reduced their stakes in BALY. Two Sigma Advisers LP acquired a new stake in shares of Bally’s during the 4th quarter worth about $250,000. Man Group plc acquired a new stake in shares of Bally’s during the 4th quarter worth about $5,187,000. K2 Principal Fund L.P. acquired a new stake in shares of Bally’s during the 4th quarter worth about $1,262,000. Eisler Capital Management Ltd. acquired a new stake in shares of Bally’s during the 4th quarter worth about $4,699,000. Finally, Deutsche Bank AG boosted its stake in shares of Bally’s by 49.1% during the 4th quarter. Deutsche Bank AG now owns 22,715 shares of the company’s stock worth $406,000 after purchasing an additional 7,485 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.