Bally’s Co. (NYSE:BALY) Sees Significant Increase in Short Interest

Bally’s Co. (NYSE:BALY) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 6,800 shares, an increase of 2,166.7% from the January 31st total of 300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,500 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On Bally’s

Institutional investors and hedge funds have recently modified their holdings of the company. Alpine Associates Management Inc. bought a new position in shares of Bally’s during the third quarter valued at approximately $26,665,000. Balyasny Asset Management L.P. boosted its holdings 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 purchasing an additional 496,933 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Bally’s in the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. purchased a new stake in shares of Bally’s in the third quarter valued at approximately $6,784,000. Finally, Nexpoint Asset Management L.P. lifted its holdings in Bally’s by 88.3% during the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock worth $14,461,000 after buying an additional 378,950 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Stock Performance

BALY stock traded up $0.13 during midday trading on Thursday, hitting $15.29. The company’s stock had a trading volume of 6,289 shares, compared to its average volume of 8,396. Bally’s has a 1 year low of $10.00 and a 1 year high of $23.20. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The stock’s 50-day moving average price is $17.44 and its 200 day moving average price is $17.45. The stock has a market cap of $621.60 million, a price-to-earnings ratio of -1.01 and a beta of 2.05.

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.