Bally’s Co. (NYSE:BALY) Short Interest Down 7.2% in October

Bally’s Co. (NYSE:BALYGet Rating) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,850,000 shares, a drop of 7.2% from the October 15th total of 3,070,000 shares. Based on an average daily volume of 327,900 shares, the short-interest ratio is currently 8.7 days. Approximately 7.4% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Bally’s from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, November 4th. Stifel Nicolaus lowered shares of Bally’s from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $25.00 in a report on Wednesday, November 2nd. Cowen dropped their price target on shares of Bally’s to $35.00 in a research report on Thursday, October 20th. Truist Financial dropped their target price on shares of Bally’s from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. Finally, Cowen dropped their target price on shares of Bally’s from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.88.

Bally’s Stock Performance

Bally’s stock opened at $24.64 on Friday. The company has a market cap of $1.34 billion, a PE ratio of -28.99 and a beta of 1.91. The company’s 50-day moving average is $21.97 and its two-hundred day moving average is $22.99. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 3.12. Bally’s has a 1 year low of $17.54 and a 1 year high of $45.98.

Institutional Trading of Bally’s

A number of large investors have recently bought and sold shares of the business. Verition Fund Management LLC grew its stake in shares of Bally’s by 4.7% in the third quarter. Verition Fund Management LLC now owns 11,938 shares of the company’s stock valued at $236,000 after buying an additional 531 shares in the last quarter. FMR LLC raised its stake in Bally’s by 0.4% in the second quarter. FMR LLC now owns 135,629 shares of the company’s stock valued at $2,683,000 after purchasing an additional 540 shares in the last quarter. Rhumbline Advisers raised its stake in Bally’s by 1.8% in the first quarter. Rhumbline Advisers now owns 33,981 shares of the company’s stock valued at $1,045,000 after purchasing an additional 611 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its stake in Bally’s by 1.1% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 124,865 shares of the company’s stock valued at $2,467,000 after purchasing an additional 1,323 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Bally’s by 7.2% in the first quarter. Envestnet Asset Management Inc. now owns 21,574 shares of the company’s stock valued at $663,000 after acquiring an additional 1,456 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Bally’s Company Profile

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Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

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