Bally’s Co. (NYSE:BALY) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in shares of Bally’s Co. (NYSE:BALY) by 100.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,843 shares of the company’s stock after buying an additional 1,926 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Bally’s were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Garde Capital Inc. grew its position in shares of Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after buying an additional 2,000 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Bally’s by 35.6% during the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock worth $149,000 after buying an additional 2,987 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Bally’s by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 130,802 shares of the company’s stock worth $1,715,000 after buying an additional 3,503 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Bally’s by 10.5% during the third quarter. Los Angeles Capital Management LLC now owns 41,072 shares of the company’s stock worth $538,000 after buying an additional 3,894 shares in the last quarter. Finally, Strs Ohio lifted its stake in Bally’s by 96.8% during the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock worth $322,000 after purchasing an additional 12,100 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

Bally’s Stock Performance

Shares of BALY stock traded down $0.23 during trading hours on Monday, hitting $13.74. The stock had a trading volume of 305,582 shares, compared to its average volume of 485,646. The firm has a market capitalization of $550.64 million, a PE ratio of -3.92 and a beta of 2.08. Bally’s Co. has a twelve month low of $7.28 and a twelve month high of $17.83. The stock’s 50 day moving average is $12.79 and its 200 day moving average is $11.86. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BALY shares. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 price target on shares of Bally’s in a report on Friday, January 5th. Stifel Nicolaus lowered their price target on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Truist Financial upped their price target on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Macquarie downgraded Bally’s from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $12.00 in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.29.

Bally’s Profile

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.