Bally’s Corporation (NYSE: BALY) stock fell -6.15% on Friday to $21.35 against a previous-day closing price of $22.75. With 1.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.74 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $24.05 whereas the lowest price it dropped to was $21.08. The 52-week range on BALY shows that it touched its highest point at $55.03 and its lowest point at $17.54 during that stretch. It currently has a 1-year price target of $30.83. Beta for the stock currently stands at 2.05.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BALY was down-trending over the past week, with a drop of -4.86%, but this was up by 3.34% over a month. Three-month performance dropped to -29.00% while six-month performance fell -40.71%. The stock lost -55.48% in the past year, while it has lost -43.90% so far this year. A look at the trailing 12-month EPS for BALY yields -0.73 with Next year EPS estimates of 0.68. For the next quarter, that number is 0.25. This implies an EPS growth rate of -381.10% for this year and -4.65% for next year.
Float and Shares Shorts:
At present, 60.02 million BALY shares are outstanding with a float of 32.56 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.36 million, which was 8.30% higher than short shares on Jun 14, 2022. In addition to Mr. Lee Daniel Fenton as the firm’s CEO & Director, Mr. Marc A. Crisafulli serves as its Exec. VP of Gov. Relations, Legal & Regulatory.
Through their ownership of 72.38% of BALY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.86% of BALY, in contrast to 24.72% held by mutual funds. Shares owned by individuals account for 17.53%. As the largest shareholder in BALY with 21.95% of the stake, Standard General LP holds 11,424,849 shares worth 11,424,849. A second-largest stockholder of BALY, HG Vora Capital Management LLC, holds 3,500,000 shares, controlling over 6.73% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BALY, holding 1,825,882 shares or 3.51% stake. With a 1.79% stake in BALY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 931,391 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.75% of BALY stock, is the second-largest Mutual Fund holder. It holds 912,005 shares valued at 18.04 million. Slater Growth Fund holds 1.32% of the stake in BALY, owning 684,992 shares worth 13.55 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BALY since 8 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BALY analysts setting a high price target of $53.00 and a low target of $21.00, the average target price over the next 12 months is $30.83. Based on these targets, BALY could surge 148.24% to reach the target high and fall by -1.64% to reach the target low. Reaching the average price target will result in a growth of 44.4% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BALY will report FY 2022 earnings on 02/13/2023. Analysts have provided yearly estimates in a range of $0.80 being high and $0.04 being low. For BALY, this leads to a yearly average estimate of $0.39. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Bally’s Corporation surprised analysts by $0.84 when it reported $0.98 EPS against a consensus estimate of $0.14. The surprise factor in the prior quarter was $0.43. Based on analyst estimates, the high estimate for the next quarter is $0.34 and the low estimate is -$0.19. The average estimate for the next quarter is thus $0.13.
Summary of Insider Activity:
Insiders traded BALY stock several times over the past three months with 5 Buys and 1 Sells. In these transactions, 19,505 shares were bought while 1,171 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 1,318,767 while 79,690 shares were sold.