Bally’s Corporation (NYSE:BALY) Short Interest Up 21.1% in December

Bally’s Corporation (NYSE:BALY) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 632,605 shares, a growth of 21.1% from the December 15th total of 522,467 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 119,054 shares, the days-to-cover ratio is currently 5.3 days. Based on an average daily trading volume, of 119,054 shares, the days-to-cover ratio is currently 5.3 days. Currently, 5.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

BALY has been the subject of several recent research reports. Barclays set a $11.00 target price on shares of Bally’s and gave the company an “underweight” rating in a report on Wednesday, December 17th. Truist Financial upped their target price on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Stifel Nicolaus increased their target price on Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Macquarie boosted their price target on Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $16.50.

Institutional Investors Weigh In On Bally’s

A number of institutional investors have recently bought and sold shares of BALY. Janney Montgomery Scott LLC purchased a new position in Bally’s during the second quarter worth approximately $867,000. Wolverine Asset Management LLC grew its stake in shares of Bally’s by 35.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after buying an additional 4,345 shares during the period. Geode Capital Management LLC increased its holdings in shares of Bally’s by 113.1% during the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after buying an additional 87,346 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Bally’s in the 2nd quarter worth $33,000. Finally, Crossingbridge Advisors LLC acquired a new position in Bally’s in the second quarter valued at $240,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Trading Down 0.9%

Shares of BALY stock traded down $0.15 during mid-day trading on Monday, hitting $16.88. 32,894 shares of the company’s stock were exchanged, compared to its average volume of 61,612. The stock has a market cap of $829.82 million, a price-to-earnings ratio of -3.46 and a beta of 1.45. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13. Bally’s has a fifty-two week low of $8.45 and a fifty-two week high of $22.41. The stock has a 50-day simple moving average of $16.85 and a two-hundred day simple moving average of $13.58.

Bally’s (NYSE:BALY) last released its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. The business had revenue of $210.25 million during the quarter. Equities analysts expect that Bally’s will post -7.26 EPS for the current fiscal year.

About Bally’s

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.