Bally's (NYSE:BALY) Shares Down 6.7% - Should You Sell?

Bally's Co. (NYSE:BALY - Get Free Report)'s share price fell 6.7% during trading on Tuesday . The stock traded as low as $17.30 and last traded at $16.88. 24,539 shares were traded during mid-day trading, a decline of 93% from the average session volume of 369,344 shares. The stock had previously closed at $18.09.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BALY. Stifel Nicolaus lowered their price objective on Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a research report on Thursday, March 6th. Citizens Jmp upgraded Bally's to a "hold" rating in a research report on Tuesday. Finally, Barclays decreased their target price on Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.13.

Bally's Stock Up 5.0 %

The company has a 50 day simple moving average of $16.96 and a two-hundred day simple moving average of $17.37. 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 company has a market capitalization of $867.28 million, a P/E ratio of -1.19 and a beta of 2.14.

Bally's (NYSE:BALY - Get Free Report) last released its earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to analysts' expectations of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. As a group, equities analysts predict that Bally's Co. will post -7.26 EPS for the current year.

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Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Longfellow Investment Management Co. LLC bought a new position in shares of Bally's during the third quarter valued at approximately $38,000. Point72 DIFC Ltd bought a new position in shares of Bally's during the third quarter valued at approximately $48,000. BNP Paribas Financial Markets bought a new position in Bally's in the fourth quarter worth approximately $58,000. SG Americas Securities LLC grew its stake in Bally's by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock worth $170,000 after purchasing an additional 624 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Bally's in the fourth quarter worth approximately $196,000. Institutional investors own 70.41% of the company's stock.

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.