Vanguard Group Inc. Trims Holdings in Bally’s Co. (NYSE:BALY)

Vanguard Group Inc. decreased its holdings in shares of Bally’s Co. (NYSE:BALY) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,409,485 shares of the company’s stock after selling 115,106 shares during the period. Vanguard Group Inc.’s holdings in Bally’s were worth $25,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after purchasing an additional 624 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Bally’s in the fourth quarter valued at approximately $196,000. Proficio Capital Partners LLC purchased a new position in shares of Bally’s during the 4th quarter worth approximately $401,000. Virtu Financial LLC purchased a new stake in shares of Bally’s during the 3rd quarter worth approximately $482,000. Finally, Barclays PLC boosted its stake in shares of Bally’s by 63.7% during the third quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after acquiring an additional 14,567 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

Bally’s Trading Up 2.5 %

Shares of Bally’s stock opened at $15.50 on Wednesday. The company has a market capitalization of $752.00 million, a price-to-earnings ratio of -1.03 and a beta of 2.02. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. Bally’s Co. has a 1 year low of $10.00 and a 1 year high of $18.98. The business has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $16.90.

Bally’s (NYSE:BALY) last released 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. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The company had revenue of $580.37 million for the quarter, compared to analysts’ expectations of $589.83 million. Research analysts forecast that Bally’s Co. will post -7.26 EPS for the current year.

Analysts Set New Price Targets

BALY has been the subject of several recent research reports. Citizens Jmp raised shares of Bally’s to a “hold” rating in a research report on Tuesday, March 18th. Stifel Nicolaus cut their price objective on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Barclays decreased their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.13.

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.