Bally’s Co. (NYSE:BALY) Position Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Bally’s Co. (NYSE:BALY) by 58.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the company’s stock after purchasing an additional 35,000 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.23% of Bally’s worth $1,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BALY. Vestcor Inc boosted its position in shares of 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 purchasing an additional 594 shares during the period. SG Americas Securities LLC lifted its stake in Bally’s by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after buying an additional 624 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Bally’s in the third quarter worth about $48,000. Quest Partners LLC increased its position in shares of Bally’s by 78.9% in the third quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock worth $337,000 after acquiring an additional 8,608 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Bally’s during the fourth quarter valued at approximately $196,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Bally’s Stock Performance

Shares of BALY stock opened at $16.06 on Wednesday. Bally’s Co. has a fifty-two week low of $10.00 and a fifty-two week high of $18.98. The stock’s 50-day moving average is $16.92 and its two-hundred day moving average is $17.37. 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 firm has a market cap of $779.07 million, a P/E ratio of -1.07 and a beta of 2.14.

Bally’s (NYSE:BALY) last issued its quarterly earnings data 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. The firm had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. Analysts predict that Bally’s Co. will post -7.26 earnings per share for the current fiscal year.

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.