Charles Schwab Investment Management Inc. Reduces Holdings in Bally's Corporation $BALY

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. trimmed its position in shares of Bally's Corporation (NYSE:BALY - Free Report) by 79.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,991 shares of the company's stock after selling 159,260 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.08% of Bally's worth $492,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BALY. Wells Fargo & Company MN increased its position 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 increased its position in shares of Bally's by 14.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 57,399 shares of the company's stock worth $1,027,000 after purchasing an additional 7,340 shares in the last quarter. Northern Trust Corp increased its position in shares of Bally's by 4.4% during the fourth quarter. Northern Trust Corp now owns 214,536 shares of the company's stock worth $3,838,000 after purchasing an additional 9,066 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Bally's during the fourth quarter worth approximately $58,000. Finally, Bank of America Corp DE increased its position in shares of Bally's by 17.2% during the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock worth $553,000 after purchasing an additional 4,533 shares in the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BALY has been the subject of several analyst reports. Stifel Nicolaus dropped their target price on Bally's from $12.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Wall Street Zen cut Bally's from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Truist Financial dropped their target price on Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Macquarie dropped their target price on Bally's from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. Finally, Barclays dropped their target price on Bally's from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $11.00.

Bally's Stock Performance

Shares of Bally's stock opened at $9.90 on Thursday. Bally's Corporation has a 52 week low of $8.45 and a 52 week high of $23.20. The business's fifty day simple moving average is $9.94 and its 200-day simple moving average is $12.06. The firm has a market cap of $486.07 million, a PE ratio of -0.85 and a beta of 1.86. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 5.54.

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.

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