Standard General L.P. Sells 1,740,000 Shares of Bally's Co. (NYSE:BALY)

Standard General L.P. trimmed its stake in shares of Bally's Co. (NYSE:BALY - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,849,849 shares of the company's stock after selling 1,740,000 shares during the period. Bally's comprises 78.1% of Standard General L.P.'s holdings, making the stock its largest position. Standard General L.P. owned approximately 21.76% of Bally's worth $158,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BALY. Vestcor Inc raised its position in Bally's by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company's stock worth $1,800,000 after acquiring an additional 594 shares during the period. SG Americas Securities LLC increased its stake 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 worth $170,000 after acquiring an additional 624 shares during the last quarter. Wells Fargo & Company MN raised its stake in Bally's by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock worth $251,000 after purchasing an additional 860 shares during the period. Invesco Ltd. lifted its holdings in Bally's by 2.3% in the fourth quarter. Invesco Ltd. now owns 141,584 shares of the company's stock valued at $2,533,000 after acquiring an additional 3,125 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Bally's by 1.4% during the 4th quarter. Hsbc Holdings PLC now owns 363,344 shares of the company's stock worth $6,507,000 after purchasing an additional 5,147 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BALY shares. Citizens Jmp upgraded shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Stifel Nicolaus lowered their target price 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, Barclays dropped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.13.

Bally's Stock Performance

NYSE BALY traded up $0.20 on Tuesday, hitting $12.96. 23,051 shares of the company's stock were exchanged, compared to its average volume of 328,080. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The firm's 50-day moving average price is $15.24 and its two-hundred day moving average price is $16.80. The firm has a market cap of $628.69 million, a price-to-earnings ratio of -0.86 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 $18.98.

Bally's (NYSE:BALY - Get Free Report) last released its earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. On average, research analysts expect that Bally's Co. will post -7.26 EPS 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.