Bally’s Co. (NYSE:BALY) Shares Sold by American International Group Inc.

American International Group Inc. cut its position in shares of Bally’s Co. (NYSE:BALY) by 18.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,200 shares of the company’s stock after selling 3,108 shares during the quarter. American International Group Inc.’s holdings in Bally’s were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Bally’s by 0.4% during the second quarter. FMR LLC now owns 135,629 shares of the company’s stock worth $2,683,000 after acquiring an additional 540 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Bally’s by 0.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 83,468 shares of the company’s stock worth $1,618,000 after acquiring an additional 594 shares during the last quarter. Rhumbline Advisers increased its stake in Bally’s by 1.8% during the first quarter. Rhumbline Advisers now owns 33,981 shares of the company’s stock worth $1,045,000 after acquiring an additional 611 shares during the last quarter. Point72 Middle East FZE acquired a new stake in shares of Bally’s in the fourth quarter valued at about $28,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Bally’s by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 125,819 shares of the company’s stock valued at $3,868,000 after buying an additional 1,738 shares in the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen lowered their target price on Bally’s from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, August 16th. Truist Financial lowered their target price on Bally’s from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Barclays lowered their target price on Bally’s from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Finally, Stifel Nicolaus lowered their target price on Bally’s from $16.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.57.

Insiders Place Their Bets

In related news, insider Craig L. Eaton purchased 10,600 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $9.45 per share, with a total value of $100,170.00. Following the acquisition, the insider now owns 149,157 shares in the company, valued at approximately $1,409,533.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Craig L. Eaton purchased 10,600 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $9.45 per share, with a total value of $100,170.00. Following the acquisition, the insider now owns 149,157 shares in the company, valued at approximately $1,409,533.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robeson Reeves purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $9.43 per share, for a total transaction of $188,600.00. Following the acquisition, the chief executive officer now owns 282,785 shares in the company, valued at approximately $2,666,662.55. The disclosure for this purchase can be found here. Insiders have bought a total of 48,500 shares of company stock valued at $448,791 in the last quarter. Insiders own 26.30% of the company’s stock.

Bally’s Price Performance

Shares of NYSE BALY opened at $11.75 on Tuesday. Bally’s Co. has a fifty-two week low of $7.28 and a fifty-two week high of $25.48. The business has a 50 day moving average price of $11.22 and a two-hundred day moving average price of $13.85. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 3.82. The firm has a market cap of $536.06 million, a PE ratio of -1.62 and a beta of 2.00.

Bally’s (NYSE:BALY) last released its earnings results on Wednesday, November 1st. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.03). Bally’s had a negative return on equity of 14.89% and a negative net margin of 16.43%. The firm had revenue of $632.50 million for the quarter, compared to the consensus estimate of $634.49 million. During the same period in the prior year, the business earned $0.01 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Bally’s Co. will post -2.71 earnings per share for the current fiscal year.

Bally’s Company Profile

We are a global gaming, hospitality and entertainment company with a portfolio of casinos and resorts and online gaming businesses. We provide our customers with physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo, sportsbook and free-to-play ("F2P") games.