Stocks of Ballys Corporation (BALY) are poised to climb above their peers

Ballys Corporation (NYSE: BALY) stock jumped 2.74% on Friday to $11.23 against a previous-day closing price of $10.93. With 0.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.53 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $11.39 whereas the lowest price it dropped to was $10.96. The 52-week range on BALY shows that it touched its highest point at $25.48 and its lowest point at $7.28 during that stretch. It currently has a 1-year price target of $11.75. Beta for the stock currently stands at 2.03.

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 up-trending over the past week, with a rise of 11.63%, but this was up by 21.93% over a month. Three-month performance dropped to -24.38% while six-month performance fell -27.08%. The stock lost -54.09% in the past year, while it has lost -42.05% so far this year. A look at the trailing 12-month EPS for BALY yields -7.26 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.43. This implies an EPS growth rate of 115.76% for this year and -119.71% for next year.

Float and Shares Shorts:

At present, 46.67 million BALY shares are outstanding with a float of 39.01 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.93 million, which was 4.24% higher than short shares on Sep 28, 2023. In addition to Mr. Robeson Mandela Reeves as the firm’s CEO & Director, Mr. George T. Papanier serves as its President & Director.

Institutional Ownership:

Through their ownership of 64.47% of BALY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.39% of BALY, in contrast to 39.52% held by mutual funds. Shares owned by individuals account for 14.79%. As the largest shareholder in BALY with 23.21% of the stake, Standard General LP holds 10,589,849 shares worth 10,589,849. A second-largest stockholder of BALY, BlackRock Fund Advisors, holds 3,680,513 shares, controlling over 8.07% of the firm’s shares. HG Vora Capital Management LLC is the third largest shareholder in BALY, holding 2,500,000 shares or 5.48% stake. With a 1.90% stake in BALY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 868,349 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.48% of BALY stock, is the second-largest Mutual Fund holder. It holds 673,875 shares valued at 6.15 million. Vanguard Extended Market Index Fu holds 0.90% of the stake in BALY, owning 412,349 shares worth 3.76 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BALY since 0 analysts follow the stock currently. 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 $18.00 and a low target of $8.50, the average target price over the next 12 months is $11.75. Based on these targets, BALY could surge 60.28% to reach the target high and fall by -24.31% to reach the target low. Reaching the average price target will result in a growth of 4.63% from current levels.

Summary of Insider Activity:

Insiders traded BALY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 179,714 while 528,181 shares were sold.