Nexpoint Asset Management L.P. Grows Position in Bally's Co. (NYSE:BALY)

Nexpoint Asset Management L.P. raised its stake in Bally's Co. (NYSE:BALY - Free Report) by 88.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 808,337 shares of the company's stock after buying an additional 378,950 shares during the quarter. Bally's makes up approximately 1.6% of Nexpoint Asset Management L.P.'s investment portfolio, making the stock its 18th largest position. Nexpoint Asset Management L.P. owned about 1.99% of Bally's worth $14,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BALY. SG Americas Securities LLC grew its holdings in shares of Bally's by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock valued at $170,000 after purchasing an additional 624 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Bally's in the 4th quarter valued at approximately $196,000. Wells Fargo & Company MN grew its stake in shares of Bally's by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after buying an additional 860 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Bally's during the 4th quarter worth approximately $401,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bally's during the 3rd quarter valued at approximately $482,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Citizens Jmp raised Bally's to a "hold" rating in a research report on Tuesday, March 18th. Finally, Barclays cut their price target on Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $17.13.

Bally's Trading Down 4.6 %

BALY stock traded down $0.56 during midday trading on Tuesday, hitting $11.69. The stock had a trading volume of 27,841 shares, compared to its average volume of 320,367. Bally's Co. has a 12-month low of $10.00 and a 12-month high of $18.98. The firm has a market cap of $567.08 million, a PE ratio of -0.78 and a beta of 2.04. The company's 50-day moving average price is $14.90 and its 200 day moving average price is $16.62. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

Bally's (NYSE:BALY - Get Free Report) last released its earnings results 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 business had revenue of $580.37 million for the quarter, compared to analysts' expectations of $589.83 million. On average, equities research analysts predict that Bally's Co. will post -7.26 earnings per share for the current fiscal year.

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.