Bally's (NYSE:BALY) Shares Up 5.6% - What's Next?

Bally's Co. (NYSE:BALY - Get Free Report)'s share price rose 5.6% during trading on Friday . The stock traded as high as $14.60 and last traded at $14.88. Approximately 1,221 shares were traded during trading, a decline of 100% from the average daily volume of 331,578 shares. The stock had previously closed at $14.09.

Analysts Set New Price Targets

BALY has been the topic of several recent analyst reports. Barclays dropped their target price on shares of 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. Citizens Jmp raised shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their price target on shares of Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.13.

Bally's Price Performance

The business's fifty day simple moving average is $15.24 and its 200-day simple moving average is $16.80. The firm has a market cap of $625.78 million, a P/E ratio of -0.86 and a beta of 2.02. 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 (NYSE:BALY - Get Free Report) last released its earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $1.34. The company 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%. As a group, analysts forecast that Bally's Co. will post -7.26 EPS for the current fiscal year.

Institutional Trading of Bally's

Several hedge funds and other institutional investors have recently bought and sold shares of BALY. Vestcor Inc increased its stake in shares of Bally's by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company's stock valued at $1,800,000 after buying an additional 594 shares during the period. SG Americas Securities LLC increased its stake in shares of Bally's by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock valued at $170,000 after buying an additional 624 shares during the period. Wells Fargo & Company MN increased its stake in shares of Bally's by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after buying an additional 860 shares during the period. Invesco Ltd. increased its stake in shares of Bally's by 2.3% during the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company's stock valued at $2,533,000 after buying an additional 3,125 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Bally's during the fourth quarter valued at approximately $58,000. 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.