Strs Ohio Buys 19,000 Shares of Bally’s Co. (NYSE:BALY)

Strs Ohio grew its stake in shares of Bally’s Co. (NYSE:BALY) by 77.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,600 shares of the company’s stock after buying an additional 19,000 shares during the period. Strs Ohio owned 0.10% of Bally’s worth $607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BALY. Rathbones Group PLC bought a new position in shares of Bally’s in the third quarter worth approximately $8,163,000. HG Vora Capital Management LLC increased its position in shares of Bally’s by 11.1% in the third quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock worth $32,775,000 after purchasing an additional 250,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bally’s by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after purchasing an additional 93,681 shares during the last quarter. Jump Financial LLC bought a new position in shares of Bally’s in the third quarter worth approximately $389,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Bally’s by 24.1% in the third quarter. Gamco Investors INC. ET AL now owns 151,446 shares of the company’s stock worth $1,985,000 after purchasing an additional 29,417 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors.

Bally’s Stock Down 0.1 %

Shares of Bally’s stock opened at $13.98 on Friday. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65. Bally’s Co. has a 52-week low of $7.28 and a 52-week high of $17.83. The stock has a market capitalization of $560.44 million, a price-to-earnings ratio of -3.99 and a beta of 2.08. The company’s 50 day moving average price is $12.74 and its 200-day moving average price is $11.82.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.31). Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. The firm had revenue of $611.67 million during the quarter, compared to the consensus estimate of $626.62 million. Equities research analysts forecast that Bally’s Co. will post -3.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BALY shares. Truist Financial upped their price objective on shares of Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus cut their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 target price on shares of Bally’s in a research note on Friday, January 5th. Finally, Macquarie lowered Bally’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.29.

About Bally’s

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.