Legal & General Group Plc Decreases Position in Bally’s Co. (NYSE:BALY)

Legal & General Group Plc decreased its stake in Bally’s Co. (NYSE:BALY) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,250 shares of the company’s stock after selling 7,461 shares during the quarter. Legal & General Group Plc owned about 0.06% of Bally’s worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in Bally’s by 6.3% during the fourth quarter. Alliancebernstein L.P. now owns 379,812 shares of the company’s stock worth $6,795,000 after buying an additional 22,573 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of Bally’s by 30.3% during the 4th quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock worth $3,099,000 after purchasing an additional 40,250 shares during the period. Yakira Capital Management Inc. grew its holdings in Bally’s by 40.9% during the 4th quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company’s stock valued at $2,957,000 after purchasing an additional 47,943 shares during the last quarter. Invesco Ltd. raised its position in Bally’s by 2.3% in the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company’s stock worth $2,533,000 after purchasing an additional 3,125 shares during the period. Finally, Vestcor Inc lifted its stake in Bally’s by 0.6% in 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 during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Stock Down 0.2 %

Shares of Bally’s stock opened at $12.73 on Wednesday. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The stock has a market cap of $617.68 million, a price-to-earnings ratio of -0.85 and a beta of 2.02. The firm’s 50-day moving average is $15.14 and its two-hundred day moving average is $16.77. Bally’s Co. has a 1 year low of $10.00 and a 1 year high of $18.98.

Bally’s (NYSE:BALY) last released its quarterly earnings data 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. The firm had revenue of $580.37 million for the quarter, compared to the consensus estimate of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. As a group, research analysts expect that Bally’s Co. will post -7.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Bally’s Profile

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.