Bank of America Corp DE Acquires 4,533 Shares of Bally’s Co. (NYSE:BALY)

Bank of America Corp DE raised its holdings in Bally’s Co. (NYSE:BALY) by 17.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,932 shares of the company’s stock after buying an additional 4,533 shares during the period. Bank of America Corp DE owned about 0.08% of Bally’s worth $553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestcor Inc grew its stake in Bally’s by 0.6% in the 4th quarter. Vestcor Inc now owns 100,594 shares of the company’s stock valued at $1,800,000 after buying an additional 594 shares during the last quarter. Wells Fargo & Company MN grew its stake in Bally’s by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after buying an additional 860 shares during the last quarter. Invesco Ltd. grew its stake in Bally’s by 2.3% in the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company’s stock valued at $2,533,000 after buying an additional 3,125 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Bally’s in the fourth quarter valued at approximately $58,000. Finally, Hsbc Holdings PLC grew its position in shares of Bally’s by 1.4% in the fourth quarter. Hsbc Holdings PLC now owns 363,344 shares of the company’s stock valued at $6,507,000 after purchasing an additional 5,147 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bally’s Trading Down 0.6%

Shares of NYSE:BALY opened at $9.92 on Wednesday. The company has a market capitalization of $486.21 million, a P/E ratio of -0.66 and a beta of 1.86. Bally’s Co. has a 1 year low of $8.70 and a 1 year high of $18.98. 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 business’s 50 day simple moving average is $12.31 and its 200 day simple moving average is $15.35.

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

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.