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

Nexpoint Asset Management L.P. grew its position in shares of 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 and Exchange Commission (SEC). The institutional investor owned 808,337 shares of the company's stock after purchasing an additional 378,950 shares during the quarter. Bally's makes up about 1.6% of Nexpoint Asset Management L.P.'s portfolio, making the stock its 18th biggest holding. Nexpoint Asset Management L.P. owned 1.99% of Bally's worth $14,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BALY. SG Americas Securities LLC lifted its holdings in Bally's by 7.0% during 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 in the last quarter. Yakira Capital Management Inc. lifted its position in shares of Bally's by 40.9% in the fourth quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company's stock valued at $2,957,000 after acquiring an additional 47,943 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Bally's by 120.7% during the third quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company's stock worth $707,000 after purchasing an additional 22,425 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Bally's in the 4th quarter valued at $401,000. Finally, Wolverine Asset Management LLC lifted its holdings in Bally's by 30.3% in the 4th quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company's stock valued at $3,099,000 after purchasing an additional 40,250 shares in the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lowered 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 cut their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Finally, Citizens Jmp raised Bally's to a "hold" rating in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.13.

Bally's Trading Up 3.5 %

NYSE BALY traded up $0.44 during trading hours on Friday, reaching $12.94. The company had a trading volume of 134,880 shares, compared to its average volume of 322,677. Bally's Co. has a 1-year low of $10.00 and a 1-year high of $18.98. The stock has a market capitalization of $627.72 million, a P/E ratio of -0.86 and a beta of 2.02. The stock has a 50-day moving average of $14.96 and a 200 day moving average of $16.67. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62.

Bally's (NYSE:BALY - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. As a group, research analysts anticipate that Bally's Co. will post -7.26 earnings per share for the current fiscal year.

About Bally's

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.