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

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

Hedge Funds Weigh In On Bally’s

Several hedge funds and other institutional investors have recently made changes to their positions in BALY. Alpine Associates Management Inc. purchased a new position in shares of Bally’s in the third quarter valued at approximately $26,665,000. Balyasny Asset Management L.P. lifted its position in shares of Bally’s by 88.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after acquiring an additional 496,933 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Bally’s in the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. purchased a new position in shares of Bally’s in the third quarter valued at approximately $6,784,000. Finally, Nexpoint Asset Management L.P. lifted its position in shares of Bally’s by 88.3% in the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after acquiring an additional 378,950 shares in the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BALY shares. Barclays cut their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus cut their price objective on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.13.

Bally’s Price Performance

BALY stock traded down $1.43 during mid-day trading on Friday, reaching $16.83. 22,853 shares of the company’s stock were exchanged, compared to its average volume of 372,068. The company has a market cap of $814.33 million, a price-to-earnings ratio of -1.12 and a beta of 2.14. The stock’s 50 day moving average is $17.01 and its 200 day moving average is $17.36. Bally’s has a 12-month low of $10.00 and a 12-month high of $18.98. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

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.