Short Interest in Bally’s Co. (NYSE:BALY) Drops By 26.5%

Bally’s Co. (NYSE:BALY) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 5,000 shares, a decline of 26.5% from the February 13th total of 6,800 shares. Based on an average trading volume of 9,900 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Bally’s

Several institutional investors have recently bought and sold shares of BALY. Longfellow Investment Management Co. LLC bought a new position in shares of Bally’s during the 3rd quarter worth approximately $38,000. Point72 DIFC Ltd bought a new position in Bally’s in the third quarter valued at $48,000. BNP Paribas Financial Markets bought a new stake in Bally’s during the 4th quarter worth about $58,000. SG Americas Securities LLC lifted its position in Bally’s by 7.0% during 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 in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Bally’s during the 4th quarter worth about $196,000. Institutional investors own 70.41% of the company’s stock.

Bally’s Stock Up 7.7 %

Shares of Bally’s stock traded up $1.31 during trading on Monday, reaching $18.18. The stock had a trading volume of 36,195 shares, compared to its average volume of 370,573. 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 company has a market capitalization of $879.67 million, a price-to-earnings ratio of -1.21 and a beta of 2.14. Bally’s has a 52 week low of $10.00 and a 52 week high of $18.98. The stock has a fifty day moving average price of $17.01 and a two-hundred day moving average price of $17.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BALY shares. Barclays lowered their price target on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Stifel Nicolaus lowered their target price on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.13.

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.