Bally’s Co. (NYSE:BALY) Position Boosted by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its stake in shares of Bally’s Co. (NYSE:BALY) by 200.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,951 shares of the company’s stock after purchasing an additional 26,640 shares during the period. Wolverine Asset Management LLC’s holdings in Bally’s were worth $557,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Garde Capital Inc. lifted its holdings in Bally’s by 25.0% in the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after acquiring an additional 2,000 shares during the last quarter. New York State Common Retirement Fund boosted 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 during the period. Shell Asset Management Co. acquired a new position in shares of Bally’s during the third quarter worth approximately $206,000. Strs Ohio boosted its position in shares of 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 buying an additional 12,100 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Bally’s during the third quarter worth approximately $358,000. Institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

BALY has been the subject of several analyst reports. Macquarie downgraded Bally’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $12.00 in a research report on Wednesday, January 17th. Stifel Nicolaus dropped their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company reissued an “underweight” rating and set a $10.00 target price on shares of Bally’s in a report on Friday, January 5th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.29.

Bally’s Stock Down 0.1 %

Shares of Bally’s stock opened at $13.98 on Friday. Bally’s Co. has a 1 year low of $7.28 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a 50-day moving average price of $12.74 and a 200 day moving average price of $11.82.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $611.67 million during the quarter, compared to analysts’ expectations of $626.62 million. On average, research analysts expect that Bally’s Co. will post -3.76 EPS for the current year.

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.