Regatta Capital Group LLC Takes $780,000 Position in Bally's Co. (NYSE:BALY)

Regatta Capital Group LLC bought a new position in shares of Bally's Co. (NYSE:BALY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 63,413 shares of the company's stock, valued at approximately $780,000. Regatta Capital Group LLC owned approximately 0.13% of Bally's at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Bally's by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock worth $170,000 after purchasing an additional 624 shares during the last quarter. Yakira Capital Management Inc. raised its holdings in Bally's by 40.9% in the fourth quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company's stock worth $2,957,000 after purchasing an additional 47,943 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Bally's during the fourth quarter valued at about $401,000. Wolverine Asset Management LLC lifted its position in shares of Bally's by 30.3% during the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company's stock valued at $3,099,000 after buying an additional 40,250 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Bally's by 54.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company's stock valued at $1,513,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 70.41% of the company's stock.

Bally's Price Performance

BALY stock traded up $0.24 during mid-day trading on Thursday, reaching $9.50. The company's stock had a trading volume of 24,921 shares, compared to its average volume of 302,649. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The company's 50 day moving average is $12.27 and its two-hundred day moving average is $15.30. Bally's Co. has a fifty-two week low of $8.70 and a fifty-two week high of $18.98. The stock has a market cap of $465.62 million, a PE ratio of -0.63 and a beta of 1.86.

Bally's (NYSE:BALY - Get Free Report) last posted 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. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. The firm had revenue of $580.37 million during the quarter, compared to analysts' expectations of $589.83 million. Equities research analysts expect that Bally's Co. will post -7.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on BALY. Barclays reduced their price objective on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus cut their price target on shares of Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. Finally, Citizens Jmp raised Bally's to a "hold" rating in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Bally's presently has an average rating of "Hold" and an average price target of $16.96.

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.