Tower Research Capital LLC TRC Boosts Stock Position in Bally’s Co. (NYSE:BALY)

Tower Research Capital LLC TRC grew its holdings in Bally’s Co. (NYSE:BALY) by 100.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,843 shares of the company’s stock after purchasing an additional 1,926 shares during the period. Tower Research Capital LLC TRC’s holdings in Bally’s were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BALY. Garde Capital Inc. increased its stake in Bally’s by 25.0% in the 3rd quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after buying an additional 2,000 shares during the period. New York State Common Retirement Fund raised its stake 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 valued at $149,000 after acquiring an additional 2,987 shares in the last quarter. Shell Asset Management Co. purchased a new stake in shares of Bally’s in the third quarter valued at approximately $206,000. Strs Ohio grew its stake in Bally’s by 96.8% in 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 in the last quarter. Finally, Trexquant Investment LP purchased a new position in Bally’s during the 3rd quarter worth $358,000. 70.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bally’s Stock Down 1.6 %

Shares of BALY stock traded down $0.23 during mid-day trading on Monday, hitting $13.74. 305,582 shares of the stock traded hands, compared to its average volume of 485,646. The stock has a market cap of $550.64 million, a P/E ratio of -3.92 and a beta of 2.08. The stock’s fifty day moving average is $12.79 and its two-hundred day moving average is $11.86. Bally’s Co. has a 52-week low of $7.28 and a 52-week 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.

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

Bally’s Company 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.