Bally's (NYSE:BALY) Stock Price Up 15.6% - Here's Why

Shares of Bally's Co. (NYSE:BALY - Get Free Report) rose 15.6% during mid-day trading on Tuesday . The stock traded as high as $14.42 and last traded at $12.85. Approximately 8,783 shares were traded during trading, a decline of 68% from the average daily volume of 27,105 shares. The stock had previously closed at $11.11.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citizens Jmp upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Barclays decreased their target price on Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Finally, Stifel Nicolaus dropped their price target 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.13.

Bally's Price Performance

The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The company has a fifty day moving average price of $15.40 and a 200 day moving average price of $16.93. The company has a market capitalization of $747.20 million, a P/E ratio of -1.02 and a beta of 2.02.

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

Institutional Trading of Bally's

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Bally's in the third quarter valued at approximately $381,000. Barclays PLC grew its holdings in Bally's by 63.7% in the 3rd quarter. Barclays PLC now owns 37,419 shares of the company's stock worth $645,000 after buying an additional 14,567 shares in the last quarter. Virtu Financial LLC acquired a new stake in Bally's in the 3rd quarter valued at approximately $482,000. JPMorgan Chase & Co. raised its stake in Bally's by 120.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company's stock valued at $707,000 after acquiring an additional 22,425 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Bally's by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock worth $170,000 after acquiring an additional 624 shares during the period. 70.41% of the stock is currently owned by institutional investors.

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.