JPMorgan Chase & Co. Raises Stock Position in Bally's Corporation $BALY

Key Points

• JPMorgan Chase & Co. boosted its stake in Bally's by 21,781.4% in Q3, adding 754,945 shares to hold 758,411 shares (about 1.54% of the company) worth roughly $8.42 million.
• Wall Street sentiment is cautious-to-negative, with a MarketBeat average rating of "Reduce", a consensus target of $15.25, and recent Hold/Underweight/Sell notes from Truist, Barclays and Weiss.
• Bally's reported large losses (last quarter EPS -$7.53, negative net margin and ROE), has a market cap near $510 million, and its stock trades around $10.51 with a 12‑month range of $8.45–$20.74.

JPMorgan Chase & Co. lifted its stake in Bally's Corporation (NYSE:BALY - Free Report) by 21,781.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 758,411 shares of the company's stock after purchasing an additional 754,945 shares during the period. JPMorgan Chase & Co. owned 1.54% of Bally's worth $8,418,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BALY. Millennium Management LLC purchased a new position in shares of Bally's in the 3rd quarter valued at approximately $119,000. JB Capital Partners LP bought a new stake in shares of Bally's in the third quarter worth $555,000. Crossingbridge Advisors LLC boosted its holdings in shares of Bally's by 40.0% in the third quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company's stock worth $388,000 after buying an additional 10,000 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Bally's by 9.9% in the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company's stock worth $113,000 after purchasing an additional 916 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in Bally's by 44.1% during the third quarter. Wolverine Asset Management LLC now owns 23,734 shares of the company's stock valued at $263,000 after purchasing an additional 7,266 shares during the period. Institutional investors own 70.41% of the company's stock.

Wall Street Analyst Weigh In

BALY has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Bally's in a report on Tuesday, January 27th. Truist Financial lowered their price objective on shares of Bally's from $18.00 to $13.00 and set a "hold" rating for the company in a research report on Friday. Finally, Barclays set a $11.00 price target on shares of Bally's and gave the company an "underweight" rating in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $15.25.

Bally's Price Performance

BALY stock opened at $10.51 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. The stock has a market cap of $509.86 million, a PE ratio of -2.15 and a beta of 1.45. Bally's Corporation has a 12 month low of $8.45 and a 12 month high of $20.74. The company has a 50-day moving average price of $13.99 and a 200 day moving average price of $14.98.

Bally's (NYSE:BALY - Get Free Report) last announced its earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. Bally's had a negative net margin of 26.39% and a negative return on equity of 63.15%. The business had revenue of $746.25 million for the quarter. Equities research analysts anticipate that Bally's Corporation will post -7.26 earnings per share for the current year.

Bally's Company Profile

Bally's Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally's brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company's portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.

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