Bally's Corporation $BALY Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Bally's Corporation by 79.9%, now owning approximately 39,991 shares worth $492,000 following a significant sale of 159,260 shares.
• Several institutional investors, including Wells Fargo and Tudor Investment Corp, have recently increased their positions in Bally's, demonstrating mixed sentiment among major stakeholders.
• Bally's stock has experienced a significant drop in target prices by multiple analysts, with the consensus rating currently at "Hold" and a target price of $11.00.

Charles Schwab Investment Management Inc. lowered its position in shares of Bally's Corporation (NYSE:BALY - Free Report) by 79.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,991 shares of the company's stock after selling 159,260 shares during the period. Charles Schwab Investment Management Inc. owned 0.08% of Bally's worth $492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BALY. Wells Fargo & Company MN grew its stake in shares of 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 in the last quarter. Tudor Investment Corp ET AL boosted its stake in 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 acquiring an additional 7,340 shares in the last quarter. Northern Trust Corp boosted its stake in 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 acquiring an additional 9,066 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Bally's in the fourth quarter valued at $58,000. Finally, Bank of America Corp DE boosted its stake in Bally's by 17.2% in the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock valued at $553,000 after acquiring an additional 4,533 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BALY. Wall Street Zen upgraded shares of Bally's from a "sell" rating to a "hold" rating in a research note on Sunday. Barclays reduced their target price on shares of Bally's from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of Bally's from $12.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Truist Financial cut their price target on shares of Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Finally, Macquarie cut their price target on shares of Bally's from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.00.

Bally's Price Performance

BALY traded up $0.82 on Monday, hitting $10.06. 23,442 shares of the company were exchanged, compared to its average volume of 61,290. The business's fifty day moving average is $9.92 and its 200 day moving average is $11.90. The firm has a market capitalization of $494.15 million, a P/E ratio of -0.86 and a beta of 1.86. Bally's Corporation has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.47 and a current ratio of 0.49.

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.