Algert Global LLC Purchases 16,826 Shares of Bally’s Co. (NYSE:BALY)

Algert Global LLC raised its position in Bally’s Co. (NYSE:BALY) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,176 shares of the company’s stock after purchasing an additional 16,826 shares during the period. Algert Global LLC owned 0.16% of Bally’s worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BALY. Quest Partners LLC bought a new stake in Bally’s during the second quarter valued at $131,000. Garde Capital Inc. raised its holdings in shares of Bally’s by 50.0% in the 4th quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after acquiring an additional 5,000 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Bally’s during the 2nd quarter valued at about $217,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Bally’s by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares in the last quarter. Finally, PEAK6 Investments LLC increased its position in shares of Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after purchasing an additional 4,446 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Stock Performance

NYSE BALY opened at $17.51 on Friday. The company has a 50-day simple moving average of $17.18 and a two-hundred day simple moving average of $14.41. Bally’s Co. has a 12-month low of $7.28 and a 12-month high of $18.00. The firm has a market cap of $708.89 million, a price-to-earnings ratio of -1.69 and a beta of 2.08. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 9.28.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.23. The company had revenue of $621.66 million during the quarter, compared to analysts’ expectations of $641.17 million. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. Bally’s’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) EPS. On average, equities analysts forecast that Bally’s Co. will post -5.2 EPS for the current year.

Analyst Upgrades and Downgrades

BALY has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Bally’s from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $11.00 to $18.25 in a research note on Monday, July 29th. JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Truist Financial reiterated a “hold” rating and issued a $18.25 target price (up from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Stifel Nicolaus raised their price target on Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays upped their price objective on Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.14.

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.