Director Wilson Wanda Y. acquired 500 shares of Bally’s Corporation [BALY]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Bally’s Corporation shares valued at $19,318 were purchased by Wilson Wanda Y. on Dec 09. At $38.63 per share, Wilson Wanda Y. acquired 500 shares. The insider’s holdings grew to 16,352 shares worth approximately $0.35 million following the completion of this transaction.

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Also, Reeves Robeson purchased 5,750 shares, netting a total of over 258,750 in proceeds. Following the buying of shares at $45.00 each, the insider now holds 241,511 shares.

Before that, Fenton Lee had added 5,750 shares to its account. In a trade valued at $258,692, the Chief Executive Officer bought Bally’s Corporation shares for $44.99 each. Upon closing the transaction, the insider’s holdings increased to 5,750 shares, worth approximately $5.11 million.

As published in their initiating research note from Barclays on June 29, 2022, Bally’s Corporation [BALY] has been an Equal weight and the price target has been revised to $21. This represents a -1.67% premium over Thursday’s closing price. Analysts at JMP Securities started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in late June. As of March 03, 2022, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for BALY. Earlier on February 28, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for BALY stock which previously was a “a Buy”.

Analyzing BALY’s Price Performance

On Thursday, Bally’s Corporation [NYSE: BALY] plunged -6.15% to $21.35. The stock’s lowest price that day was $21.08, but it reached a high of $24.05 in the same session. During the last five days, there has been a drop of approximately -4.86%. Over the course of the year, Bally’s Corporation shares have dropped approximately -43.90%. Shares of the company reached a 52-week high of $39.38 on 01/03/22 and a 52-week low of $17.54 on 06/23/22. A 50-day SMA is recorded $22.32, while a 200-day SMA reached $31.96. Nevertheless, trading volume fell to 1.04 million shares from 0.28 million shares the previous day.

Support And Resistance Levels for Bally’s Corporation (BALY)

According to the 24-hour chart, there is a support level at 20.27, which, if violated, would cause prices to drop to 19.19. In the upper region, resistance lies at 23.24. The next price resistance is at 25.13. RSI (Relative Strength Index) is 46.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.22, which suggests the price will decrease in the coming days. Percent R is at 87.38%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Bally’s Corporation subject to short interest?

Stocks of Bally’s Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.56 million shares to 4.36 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.8 million shares. A jump of 35.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.16 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.16.

Which companies own the most shares of Bally’s Corporation (BALY)?

According to Standard General LP filings, the company currently owns 11,424,849 shares, which is about 21.95% of the total BALY shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 11424849.0 shares. With the completion of the buy transaction, HG Vora Capital Management LLC’s stake is now worth $69,230,000. BlackRock Fund Advisors reduced a -0.81% interest valued at $36.12 million while PAR Capital Management, Inc. sold a -266,615 stake. A total of -70,535 shares of Bally’s Corporation were sold by The Vanguard Group, Inc. during the quarter, and 725,001 were bought by TFG Asset Management UK LLP. In its current portfolio, Vaughan Nelson Investment Managem holds 1,170,555 shares valued at $23.15 million.

In terms of Bally’s Corporation share price expectations, FactSet research, analysts set an average price target of $30.83 in the next 12 months, up nearly 23.08% from the previous closing price of $22.75. Analysts anticipate Bally’s Corporation stock to reach $53.00 by 2022, with the lowest price target being $21.00. In spite of this, 8 analysts ranked Bally’s Corporation stock as an Overweight at the end of 2022. On October 27, 2021, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $52.


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