Bally's (NYSE:BALY) Trading Up 13.8% - What's Next?

Bally's Co. (NYSE:BALY - Get Free Report)'s stock price traded up 13.8% during mid-day trading on Wednesday . The stock traded as high as $17.44 and last traded at $17.44. 6,985 shares were traded during mid-day trading, a decline of 98% from the average session volume of 343,919 shares. The stock had previously closed at $15.32.

Wall Street Analysts Forecast Growth

BALY has been the subject of several research analyst reports. Citizens Jmp raised shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Barclays lowered their target price on 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. Finally, Stifel Nicolaus cut 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.13.

Bally's Stock Up 11.2 %

The business has a 50 day moving average price of $15.37 and a 200 day moving average price of $16.91. The firm has a market capitalization of $876.96 million, a P/E ratio of -1.20 and a beta of 2.02. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

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

Institutional Trading of Bally's

Several institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of Bally's during the 4th quarter worth about $58,000. SG Americas Securities LLC lifted its stake in Bally's by 7.0% during 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 during the period. Intech Investment Management LLC acquired a new stake in Bally's during the fourth quarter valued at approximately $196,000. Two Sigma Advisers LP bought a new stake in shares of Bally's in the 4th quarter valued at approximately $250,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Bally's by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock worth $251,000 after buying an additional 860 shares in the last quarter. Institutional investors and hedge funds 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.