Geode Capital Management LLC Lowers Position in Bally’s Co. (NYSE:BALY)

Geode Capital Management LLC trimmed its holdings in shares of Bally’s Co. (NYSE:BALY) by 49.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,892 shares of the company’s stock after selling 272,668 shares during the quarter. Geode Capital Management LLC owned about 0.69% of Bally’s worth $5,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BALY. Vestcor Inc grew its holdings in shares of Bally’s by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company’s stock worth $1,800,000 after purchasing an additional 594 shares in the last quarter. SG Americas Securities LLC grew its stake in Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after buying an additional 624 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Bally’s in the 4th quarter worth $196,000. Alberta Investment Management Corp raised its position in shares of Bally’s by 54.0% during the 4th quarter. Alberta Investment Management Corp now owns 38,503 shares of the company’s stock valued at $689,000 after buying an additional 13,503 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Bally’s by 63.7% during the 3rd quarter. Barclays PLC now owns 37,419 shares of the company’s stock worth $645,000 after acquiring an additional 14,567 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BALY shares. Stifel Nicolaus lowered their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Barclays reduced their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.13.

Bally’s Trading Up 1.8 %

Shares of BALY opened at $14.35 on Friday. The stock has a market capitalization of $696.12 million, a P/E ratio of -0.95 and a beta of 2.02. The firm has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $16.83. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally’s Co. has a twelve month low of $10.00 and a twelve month high of $18.98.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $1.34. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The company had revenue of $580.37 million for the quarter, compared to the consensus estimate of $589.83 million. On average, research analysts anticipate that Bally’s Co. will post -7.26 EPS for the current year.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.