Bally's (NYSE:BALY) Sees Strong Trading Volume - What's Next?

Shares of Bally's Co. (NYSE:BALY - Get Free Report) saw strong trading volume on Friday . 406,600 shares were traded during mid-day trading, a decline of 13% from the previous session's volume of 469,667 shares.The stock last traded at $17.49 and had previously closed at $17.50.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BALY. Barclays lifted their target price on Bally's from $10.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. TD Cowen reaffirmed a "hold" rating and issued a $18.25 target price (up previously from $15.00) on shares of Bally's in a research report on Friday, July 26th. Truist Financial reaffirmed a "hold" rating and issued a $18.25 target price (up previously from $16.00) on shares of Bally's in a research report on Friday, July 26th. JMP Securities reaffirmed a "market perform" rating on shares of Bally's in a research report on Monday, July 15th. Finally, Stifel Nicolaus lifted their target price on Bally's from $14.00 to $18.25 and gave the company a "hold" rating in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.14.

Bally's Trading Down 0.4 %

The business has a 50-day simple moving average of $17.25 and a two-hundred day simple moving average of $14.66. The stock has a market cap of $705.86 million, a price-to-earnings ratio of -1.69 and a beta of 2.08. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Bally's (NYSE:BALY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, topping analysts' consensus estimates of ($1.47) by $0.23. Bally's had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm had revenue of $621.66 million for the quarter, compared to the consensus estimate of $641.17 million. During the same quarter in the previous year, the business earned ($0.25) earnings per share. The business's revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Bally's Co. will post -5.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Bally's

A number of institutional investors have recently made changes to their positions in BALY. SG Americas Securities LLC bought a new stake in shares of Bally's in the third quarter valued at approximately $153,000. Algert Global LLC boosted its stake in shares of Bally's by 34.8% in the second quarter. Algert Global LLC now owns 65,176 shares of the company's stock valued at $780,000 after buying an additional 16,826 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Bally's in the second quarter valued at approximately $843,000. Alden Global Capital LLC boosted its stake in shares of Bally's by 63.6% in the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company's stock valued at $17,068,000 after buying an additional 554,263 shares during the period. Finally, DRW Securities LLC bought a new stake in shares of Bally's in the second quarter valued at approximately $1,053,000. Institutional investors own 70.41% of the company's stock.

About Bally's

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.