UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Bally’s Co. (NYSE:BALY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Bally’s Co. (NYSE:BALY) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,910 shares of the company’s stock after selling 2,746 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of Bally’s worth $786,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of Bally’s during the 4th quarter worth $58,000. Intech Investment Management LLC bought a new stake in shares of Bally’s during the 4th quarter worth $196,000. Two Sigma Advisers LP bought a new stake in shares of Bally’s during the 4th quarter worth $250,000. Wells Fargo & Company MN lifted its holdings in shares of Bally’s by 6.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after acquiring an additional 860 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Bally’s during the 4th quarter worth $401,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Stock Performance

Bally’s stock opened at $9.92 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The company has a market capitalization of $486.21 million, a PE ratio of -0.66 and a beta of 1.86. The firm has a fifty day simple moving average of $12.31 and a two-hundred day simple moving average of $15.35. Bally’s Co. has a twelve month low of $8.70 and a twelve month high of $18.98.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of ($0.76) by $1.34. The business had revenue of $580.37 million during 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%. Research analysts expect that Bally’s Co. will post -7.26 EPS for the current year.

Analyst Ratings Changes

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

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.