Bally's Co. (NYSE:BALY) Short Interest Up 348.0% in March

Bally's Co. (NYSE:BALY - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,400 shares, an increase of 348.0% from the February 28th total of 5,000 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 24,200 shares, the days-to-cover ratio is currently 0.9 days.

Bally's Price Performance

Bally's stock traded down $0.76 during trading hours on Friday, reaching $11.88. 26,535 shares of the stock were exchanged, compared to its average volume of 362,359. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally's has a twelve month low of $10.00 and a twelve month high of $18.98. The company has a market cap of $576.20 million, a P/E ratio of -0.79 and a beta of 2.14. The stock has a 50 day moving average of $16.61 and a two-hundred day moving average of $17.28.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. Equities analysts expect that Bally's will post -7.26 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BALY. Barclays cut their price objective on shares of Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Citizens Jmp raised shares of Bally's to a "hold" rating in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus reduced their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.13.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in Bally's during the 3rd quarter valued at approximately $48,000. BNP Paribas Financial Markets bought a new stake in Bally's during the 4th quarter worth approximately $58,000. SG Americas Securities LLC boosted its stake in Bally's by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock worth $170,000 after purchasing an additional 624 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Bally's in the fourth quarter worth about $196,000. Finally, Two Sigma Advisers LP bought a new position in shares of Bally's in the 4th quarter valued at about $250,000. 70.41% of the stock is currently owned by institutional investors.

About Bally's

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.