Bally's Co. (NYSE:BALY – Get Rating) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,740,000 shares, a decrease of 32.8% from the November 15th total of 2,590,000 shares. Currently, 4.5% of the company's shares are short sold. Based on an average trading volume of 288,200 shares, the days-to-cover ratio is presently 6.0 days.
Insider Activity
In other Bally's news, major shareholder General L.P. Standard sold 475,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $22.60, for a total value of $10,735,000.00. Following the completion of the sale, the insider now owns 10,589,849 shares of the company's stock, valued at $239,330,587.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.70% of the company's stock.
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Institutional Trading of Bally's
Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its stake in Bally's by 179.6% during the 3rd quarter. UBS Group AG now owns 1,644 shares of the company's stock valued at $33,000 after acquiring an additional 3,709 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Bally's during the 3rd quarter valued at about $35,000. Point72 Hong Kong Ltd purchased a new position in Bally's during the 2nd quarter valued at about $141,000. Bluefin Capital Management LLC purchased a new position in Bally's during the 2nd quarter valued at about $215,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Bally's in the 2nd quarter valued at approximately $224,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Bally's in a research note on Wednesday, October 5th. They set a "hold" rating and a $23.00 price objective on the stock. Cowen reduced their price target on shares of Bally's to $35.00 in a report on Thursday, October 20th. Stifel Nicolaus downgraded shares of Bally's from a "buy" rating to a "hold" rating and reduced their price target for the company from $28.00 to $25.00 in a report on Wednesday, November 2nd. Wells Fargo & Company lifted their price objective on shares of Bally's from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, November 4th. Finally, Truist Financial cut their price objective on shares of Bally's from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, October 25th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.88.
Bally's Price Performance
Shares of Bally's stock opened at $22.45 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 3.12. The company's 50-day moving average price is $22.51 and its two-hundred day moving average price is $22.70. Bally's has a 52 week low of $17.54 and a 52 week high of $39.38. The stock has a market cap of $1.22 billion, a PE ratio of -26.41 and a beta of 1.92.
Bally's (NYSE:BALY – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.27). The company had revenue of $578.25 million for the quarter, compared to analyst estimates of $582.59 million. Bally's had a positive return on equity of 0.54% and a negative net margin of 2.39%. As a group, sell-side analysts anticipate that Bally's will post 1.07 EPS for the current fiscal year.
Bally's Company Profile
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Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.
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