Thu Sep 19 08:06:36 UTC 2024: ## Bally’s Short Interest Drops Amid Positive Earnings Report

**NEW YORK, NY – September 19, 2024** – Bally’s Corporation (NYSE: BALY) experienced a significant decrease in short interest during August, indicating growing confidence in the company’s future. According to MarketBeat News, short interest fell by 7.0% to 1,470,000 shares as of August 31st, down from 1,580,000 shares on August 15th.

This decline comes on the heels of a positive earnings report released on July 31st. Bally’s exceeded analysts’ expectations for the quarter, reporting ($1.24) EPS, beating estimates by $0.23. Revenue for the quarter reached $621.66 million, although slightly lower than estimates.

Despite the decrease in short interest, Bally’s stock opened at $17.27 on Thursday, with a 52-week low of $7.28 and a high of $17.73. The company’s financial health remains a concern, with a debt-to-equity ratio of 9.28.

Several hedge funds have shown interest in Bally’s recently, with some increasing their stakes in the company. Napatree Capital LLC, Gabelli Funds LLC, TFG Asset Management GP Ltd, Vanguard Group Inc., and Garde Capital Inc. all made notable purchases of Bally’s stock in recent quarters.

Bally’s operates a diverse portfolio of casino-entertainment assets across 10 states, including casinos, a golf course, a horse racetrack, and online gaming platforms. The company’s focus on both traditional and online gambling, coupled with its recent earnings performance, may be contributing to the decrease in short interest and attracting institutional investors.

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