Balyasny Asset Management L.P. Buys 496,933 Shares of Bally's Co. (NYSE:BALY)

Balyasny Asset Management L.P. increased its holdings in Bally's Co. (NYSE:BALY - Free Report) by 88.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,057,332 shares of the company's stock after buying an additional 496,933 shares during the quarter. Balyasny Asset Management L.P. owned about 2.60% of Bally's worth $18,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BALY. Bank of America Corp DE raised its stake in Bally's by 17.2% during the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock valued at $553,000 after purchasing an additional 4,533 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Bally's in the 4th quarter worth approximately $58,000. Nexpoint Asset Management L.P. lifted its stake in shares of Bally's by 88.3% in the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company's stock worth $14,461,000 after buying an additional 378,950 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Bally's by 4.4% in the fourth quarter. Northern Trust Corp now owns 214,536 shares of the company's stock valued at $3,838,000 after purchasing an additional 9,066 shares during the period. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Bally's by 14.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 57,399 shares of the company's stock valued at $1,027,000 after purchasing an additional 7,340 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BALY. 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. Citizens Jmp raised Bally's to a "hold" rating in a research report on Tuesday, March 18th. Finally, Barclays cut their target price on Bally's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.96.

Bally's Price Performance

BALY stock traded down $0.39 during midday trading on Tuesday, reaching $10.82. 16,754 shares of the company's stock traded hands, compared to its average volume of 316,695. The company has a 50-day simple moving average of $14.49 and a two-hundred day simple moving average of $16.42. The company has a market cap of $524.88 million, a price-to-earnings ratio of -0.72 and a beta of 2.04. Bally's Co. has a 1-year low of $10.00 and a 1-year 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.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings results 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 return on equity of 79.10% and a negative net margin of 30.04%. On average, analysts anticipate 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.