Alliancebernstein L.P. Purchases 22,573 Shares of Bally’s Co. (NYSE:BALY)

Alliancebernstein L.P. raised its holdings in shares of Bally’s Co. (NYSE:BALY) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,812 shares of the company’s stock after purchasing an additional 22,573 shares during the quarter. Alliancebernstein L.P. owned 0.93% of Bally’s worth $6,795,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Bally’s by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after buying an additional 624 shares in the last quarter. Intech Investment Management LLC purchased a new position in Bally’s during the 4th quarter worth $196,000. XTX Topco Ltd bought a new stake in shares of Bally’s in the 3rd quarter worth $381,000. Proficio Capital Partners LLC purchased a new stake in shares of Bally’s in the fourth quarter valued at about $401,000. Finally, Virtu Financial LLC bought a new position in shares of Bally’s during the third quarter valued at about $482,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BALY shares. Barclays decreased their price objective on shares of 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. Stifel Nicolaus decreased their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, Citizens Jmp raised Bally’s to a “hold” rating in a research report on Tuesday, March 18th. Seven 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 stock currently has a consensus rating of “Hold” and a consensus target price of $17.13.

Bally’s Trading Up 9.5 %

Shares of BALY stock opened at $15.40 on Friday. 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 firm has a market cap of $747.20 million, a P/E ratio of -1.02 and a beta of 2.02. The company has a 50 day moving average of $15.40 and a 200-day moving average of $16.93. Bally’s Co. has a 12-month low of $10.00 and a 12-month high of $18.98.

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 analysts’ consensus estimates of ($0.76) by $1.34. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The business had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. Sell-side analysts anticipate that Bally’s Co. will post -7.26 earnings per share for the current year.

About Bally’s

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.