Bally’s (NYSE:BALY) Trading Up 4.9% – Here’s Why

Bally’s Co. (NYSE:BALY)’s stock price rose 4.9% during trading on Monday . The stock traded as high as $12.63 and last traded at $12.72. Approximately 2,993 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 398,308 shares. The stock had previously closed at $12.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday. Stifel Nicolaus cut their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.63.

Bally’s Price Performance

The firm has a market capitalization of $635.22 million, a price-to-earnings ratio of -1.04 and a beta of 2.05. 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 stock’s 50 day moving average price is $17.02 and its two-hundred day moving average price is $17.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP bought a new stake in shares of Bally’s in the 4th quarter valued at approximately $250,000. Man Group plc acquired a new stake in Bally’s in the 4th quarter valued at $5,187,000. K2 Principal Fund L.P. acquired a new position in Bally’s during the fourth quarter worth $1,262,000. Eisler Capital Management Ltd. bought a new position in shares of Bally’s during the fourth quarter valued at $4,699,000. Finally, Deutsche Bank AG lifted its holdings in shares of Bally’s by 49.1% during the fourth quarter. Deutsche Bank AG now owns 22,715 shares of the company’s stock valued at $406,000 after acquiring an additional 7,485 shares during the period. 70.41% of the stock is owned by institutional investors.

About Bally’s

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.