Potrero Capital Research LLC Purchases New Holdings in Bally’s Co. (NYSE:BALY)

Potrero Capital Research LLC purchased a new stake in Bally’s Co. (NYSE:BALY) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 63,640 shares of the company’s stock, valued at approximately $4,135,000. Potrero Capital Research LLC owned 0.15% of Bally’s as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Bally’s during the 1st quarter worth approximately $25,000. Federated Hermes Inc. acquired a new position in Bally’s during the 4th quarter worth approximately $27,000. US Bancorp DE increased its position in Bally’s by 194.2% during the 1st quarter. US Bancorp DE now owns 562 shares of the company’s stock worth $37,000 after purchasing an additional 371 shares during the period. Strs Ohio acquired a new position in Bally’s during the 1st quarter worth approximately $71,000. Finally, Pinz Capital Management LP acquired a new position in Bally’s during the 1st quarter worth approximately $136,000. Institutional investors own 68.56% of the company’s stock.

Shares of NYSE BALY traded down $1.03 during mid-day trading on Thursday, reaching $45.87. 6,657 shares of the company traded hands, compared to its average volume of 364,990. Bally’s Co. has a fifty-two week low of $20.52 and a fifty-two week high of $75.92. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.94 and a current ratio of 2.00. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -195.41 and a beta of 2.57. The company has a fifty day moving average of $53.07.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Sunday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.12). The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $156.56 million. Bally’s had a positive return on equity of 3.32% and a negative net margin of 1.60%. The business’s revenue for the quarter was up 76.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bally’s Co. will post 1.85 EPS for the current fiscal year.

A number of research firms have recently commented on BALY. KeyCorp increased their price target on Bally’s from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, April 8th. Stifel Nicolaus raised their target price on Bally’s from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 28th. Jefferies Financial Group began coverage on Bally’s in a research note on Wednesday, April 21st. They set a “buy” rating and a $66.00 target price for the company. Finally, Zacks Investment Research downgraded Bally’s from a “hold” rating to a “sell” rating in a research note on Tuesday, July 13th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Bally’s has an average rating of “Buy” and an average target price of $71.60.

Bally’s Profile

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

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Institutional Ownership by Quarter for Bally`s (NYSE:BALY)

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