Vanguard Group Inc. Has $22.88 Million Stock Holdings in Bally’s Co. (NYSE:BALY)

Vanguard Group Inc. raised its stake in Bally’s Co. (NYSE:BALY) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744,829 shares of the company’s stock after buying an additional 93,681 shares during the period. Vanguard Group Inc. owned 3.82% of Bally’s worth $22,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Bally’s by 0.4% in the second quarter. FMR LLC now owns 135,629 shares of the company’s stock valued at $2,683,000 after buying an additional 540 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Bally’s by 0.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 83,468 shares of the company’s stock valued at $1,618,000 after buying an additional 594 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 611 shares during the period. Close Asset Management Ltd lifted its holdings in shares of Bally’s by 47.1% during the third quarter. Close Asset Management Ltd now owns 3,006 shares of the company’s stock worth $39,000 after purchasing an additional 962 shares during the period. Finally, Point72 Middle East FZE acquired a new position in shares of Bally’s during the fourth quarter worth $28,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reiterated an “underweight” rating and set a $10.00 price target on shares of Bally’s in a report on Friday, January 5th. Macquarie lowered shares of Bally’s from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price target on shares of Bally’s from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bally’s presently has an average rating of “Hold” and an average target price of $14.86.

Bally’s Price Performance

Shares of NYSE BALY opened at $13.41 on Friday. Bally’s Co. has a twelve month low of $7.28 and a twelve month high of $19.03. The firm has a fifty day simple moving average of $12.17 and a 200 day simple moving average of $11.67. The company has a market capitalization of $537.61 million, a PE ratio of -3.83 and a beta of 2.08. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73.

Bally’s (NYSE:BALY) last announced its earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. The firm had revenue of $611.67 million for the quarter, compared to the consensus estimate of $626.62 million. On average, sell-side analysts forecast that Bally’s Co. will post -3.73 EPS for the current year.

About Bally’s

Bally's Corporation engages in the casinos, resorts, and online gaming businesses. It operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. The company owns and manages casinos, a golf course in New York, and a horse racetrack in Colorado under the Bally's brand.