Bally’s Co. (NYSE:BALY) Short Interest Update

Bally’s Co. (NYSE:BALY) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,590,000 shares, a drop of 56.4% from the October 31st total of 3,650,000 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average trading volume of 409,300 shares, the days-to-cover ratio is currently 3.9 days.

Bally’s Price Performance

Shares of NYSE BALY traded up $0.02 during trading on Thursday, reaching $17.76. The company had a trading volume of 381,688 shares, compared to its average volume of 466,060. Bally’s has a 52 week low of $9.74 and a 52 week high of $18.00. The business’s 50 day moving average price is $17.52 and its 200-day moving average price is $15.49. The stock has a market cap of $722.25 million, a PE ratio of -1.18 and a beta of 2.07. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Barclays lifted their target price on shares of Bally’s from $10.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.14.

Institutional Trading of Bally’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Bally’s by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after buying an additional 1,064 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Bally’s by 0.8% in the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $2,047,000 after acquiring an additional 1,376 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in Bally’s during the 3rd quarter worth about $38,000. Finally, Point72 DIFC Ltd bought a new stake in Bally’s during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.