Bally's Corporation (NYSE:BALY) Shares Sold by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC significantly reduced its stake in Bally's Corporation by 93.0%, now holding only 12,123 shares worth approximately $149,000.
• Several institutional investors, including Deutsche Bank AG and BNP Paribas Financial Markets, have recently adjusted their stakes in Bally's, with overall institutional ownership at 70.41%.
• Bally's stock has experienced a 4.3% increase in value recently, trading at $10.01, but has a wide price range with a fifty-two week low of $8.45 and a high of $23.20.

Wolverine Asset Management LLC lessened its stake in shares of Bally's Corporation (NYSE:BALY - Free Report) by 93.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,123 shares of the company's stock after selling 161,115 shares during the quarter. Wolverine Asset Management LLC's holdings in Bally's were worth $149,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in Bally's during the 4th quarter valued at $58,000. Spirepoint Private Client LLC acquired a new stake in Bally's during the 1st quarter valued at $246,000. Two Sigma Advisers LP acquired a new stake in Bally's during the 4th quarter valued at $250,000. Wells Fargo & Company MN grew its holdings in Bally's by 6.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after buying an additional 860 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Bally's by 49.1% during the 4th quarter. Deutsche Bank AG now owns 22,715 shares of the company's stock valued at $406,000 after buying an additional 7,485 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company's stock.

Bally's Trading Up 4.3%

Shares of Bally's stock opened at $10.01 on Tuesday. Bally's Corporation has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The firm has a market cap of $490.59 million, a PE ratio of -0.85 and a beta of 1.86. The business's fifty day moving average is $9.89 and its two-hundred day moving average is $12.89. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 4.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays lowered their target price on Bally's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen lowered Bally's from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Truist Financial reduced their price target on Bally's from $15.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, Bally's currently has a consensus rating of "Hold" and a consensus price target of $13.67.

Bally's 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.

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