JPMorgan Chase & Co. Raises Holdings in Bally's Co. (NYSE:BALY)

JPMorgan Chase & Co. raised its stake in shares of Bally's Co. (NYSE:BALY - Free Report) by 131.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,979 shares of the company's stock after buying an additional 53,978 shares during the quarter. JPMorgan Chase & Co. owned about 0.23% of Bally's worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC increased 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 worth $3,099,000 after buying an additional 40,250 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Bally's by 58.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,000 shares of the company's stock worth $1,700,000 after acquiring an additional 35,000 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Bally's by 54.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company's stock valued at $1,513,000 after purchasing an additional 30,000 shares during the period. Virtu Financial LLC purchased a new stake in Bally's in the third quarter worth approximately $482,000. Finally, Proficio Capital Partners LLC bought a new stake in Bally's in the 4th quarter worth approximately $401,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BALY has been the topic of a number of research reports. Citizens Jmp upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Barclays dropped their target price 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. Finally, Stifel Nicolaus reduced their price target on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Bally's has a consensus rating of "Hold" and a consensus target price of $17.13.

Bally's Price Performance

Bally's stock traded up $0.08 during mid-day trading on Thursday, reaching $12.58. 425 shares of the company's stock traded hands, compared to its average volume of 326,005. Bally's Co. has a 12-month low of $10.00 and a 12-month high of $18.98. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The stock has a 50 day moving average of $15.06 and a two-hundred day moving average of $16.74. The company has a market cap of $610.01 million, a price-to-earnings ratio of -0.83 and a beta of 2.02.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $1.34. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. The business had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. Equities 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.