Bally's Co. (NYSE:BALY) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in Bally's Co. (NYSE:BALY - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,812 shares of the company's stock after buying an additional 22,573 shares during the period. Alliancebernstein L.P. owned approximately 0.93% of Bally's worth $6,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BALY. SG Americas Securities LLC increased its holdings in shares of Bally's by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock valued at $170,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC purchased a new position in Bally's during the 4th quarter worth $196,000. XTX Topco Ltd acquired a new position in Bally's in the third quarter valued at $381,000. Proficio Capital Partners LLC acquired a new position in Bally's in the fourth quarter valued at $401,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bally's in the third quarter valued at about $482,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on BALY shares. Barclays dropped their price target on 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 cut their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Finally, Citizens Jmp upgraded shares of Bally's to a "hold" rating in a research report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bally's presently has an average rating of "Hold" and an average target price of $17.13.

Bally's Price Performance

Bally's stock traded up $0.23 during midday trading on Thursday, reaching $16.49. The company's stock had a trading volume of 566 shares, compared to its average volume of 342,877. The firm has a market capitalization of $799.69 million, a PE ratio of -1.08 and a beta of 2.02. Bally's Co. has a fifty-two week low of $10.00 and a fifty-two week high of $19.50. The stock's 50 day simple moving average is $15.25 and its 200 day simple moving average is $16.90. 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 - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million during the quarter, compared to analysts' expectations of $589.83 million. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. On average, equities research analysts forecast that Bally's Co. will post -7.26 earnings per share for the current year.

Bally's Company 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.