Bally’s (NYSE:BALY) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Bally’s Corporation (NYSE:BALY – Get Free Report) saw strong trading volume on Thursday . 84,831 shares changed hands during trading, an increase of 13% from the previous session’s volume of 74,757 shares.The stock last traded at $16.6250 and had previously closed at $16.47.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BALY shares. Truist Financial raised their price objective on Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Macquarie boosted their price target on shares of Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. Stifel Nicolaus upped their price objective on shares of Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Finally, Barclays set a $11.00 target price on shares of Bally’s and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bally’s currently has an average rating of “Reduce” and an average price target of $16.50.

Check Out Our Latest Stock Report on Bally’s

Bally’s Stock Performance

The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13. The stock has a 50-day moving average of $16.94 and a 200 day moving average of $13.43. The stock has a market cap of $837.23 million, a PE ratio of -3.49 and a beta of 1.45.

Bally’s (NYSE:BALY – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. The firm had revenue of $210.25 million for the quarter. Equities analysts predict that Bally’s Corporation will post -7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in Bally’s during the second quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Bally’s in the 2nd quarter valued at $38,000. Bank of America Corp DE lifted its stake in Bally’s by 2,087.9% during the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after acquiring an additional 7,579 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Bally’s during the 2nd quarter worth about $97,000. Finally, Rhumbline Advisers boosted its holdings in Bally’s by 9.9% during the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock valued at $113,000 after acquiring an additional 916 shares during the period. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Bally’s Company Profile

(Get Free Report)

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.

Read More