Bally’s (NYSE:BALY) Trading 6.8% Higher – Here’s Why

Shares of Bally’s Co. (NYSE:BALY) were up 6.8% during mid-day trading on Monday . The stock traded as high as $18.24 and last traded at $18.02. Approximately 2,969 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 370,586 shares. The stock had previously closed at $16.87.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BALY shares. Barclays dropped their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Stifel Nicolaus dropped their price target on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Six 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, Bally’s presently has an average rating of “Hold” and a consensus price target of $17.13.

Bally’s Stock Performance

The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The business’s 50 day moving average is $17.01 and its two-hundred day moving average is $17.36. The company has a market cap of $878.46 million, a PE ratio of -1.21 and a beta of 2.14.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in Bally’s in the 3rd quarter valued at $38,000. Point72 DIFC Ltd bought a new stake in Bally’s in the 3rd quarter valued at $48,000. BNP Paribas Financial Markets bought a new stake in Bally’s in the 4th quarter valued at $58,000. SG Americas Securities LLC increased its holdings in shares of Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after buying an additional 624 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Bally’s in the 4th quarter worth about $196,000. Hedge funds and other 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.