Swiss National Bank grew its stake in Bally’s Co. (NYSE:BALY) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,325 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Swiss National Bank’s holdings in Bally’s were worth $2,490,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BALY. Standard General L.P. acquired a new position in Bally’s during the fourth quarter worth about $576,212,000. BlackRock Inc. acquired a new position in Bally’s during the fourth quarter worth about $62,760,000. Victory Capital Management Inc. acquired a new position in Bally’s during the first quarter worth about $34,315,000. Solus Alternative Asset Management LP acquired a new position in Bally’s during the fourth quarter worth about $17,816,000. Finally, Nuveen Asset Management LLC acquired a new position in Bally’s during the fourth quarter worth about $11,294,000. Institutional investors and hedge funds own 68.61% of the company’s stock.
In related news, EVP Marc A. Crisafulli sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $74.58, for a total transaction of $745,800.00. Following the sale, the executive vice president now directly owns 23,267 shares of the company’s stock, valued at approximately $1,735,252.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen H. Capp sold 56,172 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $69.97, for a total transaction of $3,930,354.84. Following the sale, the chief financial officer now directly owns 254,510 shares in the company, valued at $17,808,064.70. The disclosure for this sale can be found here. Insiders sold a total of 975,563 shares of company stock worth $54,696,925 over the last three months. Insiders own 39.40% of the company’s stock.
A number of equities analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Bally’s from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, April 8th. Jefferies Financial Group began coverage on shares of Bally’s in a report on Wednesday, April 21st. They issued a “buy” rating and a $66.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Bally’s from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, March 25th. Truist boosted their target price on shares of Bally’s from $65.00 to $80.00 in a report on Wednesday, February 24th. Finally, TheStreet lowered shares of Bally’s from a “c” rating to a “d+” rating in a report on Thursday, March 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $70.40.
Bally’s stock opened at $51.78 on Wednesday. The company has a 50 day moving average of $56.52. The stock has a market cap of $2.20 billion, a P/E ratio of -215.74 and a beta of 2.58. Bally’s Co. has a 1 year low of $19.50 and a 1 year high of $75.92. The company has a quick ratio of 1.94, a current ratio of 2.00 and a debt-to-equity ratio of 2.48.
Bally’s (NYSE:BALY) last released its quarterly earnings results on Sunday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $156.56 million. Bally’s had a negative net margin of 1.60% and a positive return on equity of 3.32%. Bally’s’s revenue for the quarter was up 76.3% on a year-over-year basis. As a group, equities research analysts forecast that Bally’s Co. will post 1.96 earnings per share for the current year.
About Bally’s
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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