Proficio Capital Partners LLC Purchases Shares of 22,434 Bally’s Co. (NYSE:BALY)

Proficio Capital Partners LLC acquired a new position in shares of Bally’s Co. (NYSE:BALY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,434 shares of the company’s stock, valued at approximately $401,000. Proficio Capital Partners LLC owned about 0.06% of Bally’s at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BALY. Longfellow Investment Management Co. LLC bought a new stake in Bally’s during the third quarter worth about $38,000. Point72 DIFC Ltd acquired a new position in shares of Bally’s during the 3rd quarter worth approximately $48,000. SG Americas Securities LLC raised its stake in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after purchasing an additional 624 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Bally’s by 78.9% in the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after buying an additional 8,608 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Bally’s in the third quarter valued at $381,000. Institutional investors own 70.41% of the company’s stock.

Bally’s Stock Performance

NYSE BALY opened at $17.78 on Tuesday. Bally’s Co. has a 52-week low of $10.00 and a 52-week high of $18.98. The stock has a market cap of $862.51 million, a PE ratio of -1.18 and a beta of 2.14. The firm has a 50-day moving average of $16.96 and a 200-day moving average of $17.38. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $1.34. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. The firm had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. On average, sell-side analysts anticipate that Bally’s Co. will post -7.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BALY. Barclays dropped their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Stifel Nicolaus lowered their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.13.

Bally’s Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.