Bally’s Co. (NYSE:BALY) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in Bally’s Co. (NYSE:BALY) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,168 shares of the company’s stock after selling 20,469 shares during the quarter. Millennium Management LLC owned about 1.25% of Bally’s worth $9,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BALY. Balyasny Asset Management L.P. raised its holdings in shares of Bally’s by 88.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock worth $18,916,000 after buying an additional 496,933 shares during the last quarter. Nexpoint Asset Management L.P. raised its stake in Bally’s by 88.3% in the 4th quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock worth $14,461,000 after acquiring an additional 378,950 shares during the last quarter. Eisler Capital Management Ltd. acquired a new stake in Bally’s during the 4th quarter worth about $4,699,000. Susquehanna Fundamental Investments LLC purchased a new stake in Bally’s during the 4th quarter valued at about $2,005,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Bally’s in the fourth quarter valued at about $1,505,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Trading Up 9.7%

Shares of NYSE:BALY opened at $10.53 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally’s Co. has a 12-month low of $9.11 and a 12-month high of $18.98. The business has a 50 day moving average of $13.44 and a two-hundred day moving average of $15.99. The company has a market capitalization of $516.11 million, a PE ratio of -0.70 and a beta of 2.04.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays decreased their target price on Bally’s from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus decreased their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.96.

Bally’s Company 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.