Bally’s (NYSE:BALY) Shares Up 6.8% – Time to Buy?

Bally’s Co. (NYSE:BALY)’s share price traded up 6.8% on Monday . The stock traded as high as $18.24 and last traded at $18.02. 2,969 shares changed hands during trading, a decline of 99% from the average session volume of 370,586 shares. The stock had previously closed at $16.87.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays dropped their price target 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. Stifel Nicolaus dropped their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bally’s has a consensus rating of “Hold” and a consensus price target of $17.13.

Bally’s Stock Down 5.3 %

The business’s 50 day moving average is $16.99 and its 200-day moving average is $17.37. The stock has a market cap of $829.09 million, a price-to-earnings ratio of -1.14 and a beta of 2.14. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Advisers LP acquired a new stake in Bally’s during the 4th quarter worth $250,000. Man Group plc acquired a new stake in Bally’s during the 4th quarter worth $5,187,000. K2 Principal Fund L.P. acquired a new stake in Bally’s during the 4th quarter worth $1,262,000. Eisler Capital Management Ltd. acquired a new stake in Bally’s during the 4th quarter worth $4,699,000. Finally, Deutsche Bank AG boosted its stake in Bally’s by 49.1% during the 4th quarter. Deutsche Bank AG now owns 22,715 shares of the company’s stock worth $406,000 after purchasing an additional 7,485 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.