Man Group plc Makes New $5.19 Million Investment in Bally's Co. (NYSE:BALY)

Man Group plc purchased a new position in Bally's Co. (NYSE:BALY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 289,914 shares of the company's stock, valued at approximately $5,187,000. Man Group plc owned 0.71% of Bally's at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in Bally's during the fourth quarter worth about $58,000. 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 valued at $170,000 after buying an additional 624 shares in the last quarter. Intech Investment Management LLC bought a new position in Bally's in the 4th quarter worth approximately $196,000. Wells Fargo & Company MN grew its stake in Bally's by 6.5% in 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Bally's in the 4th quarter valued at approximately $401,000. Institutional investors own 70.41% of the company's stock.

Bally's Price Performance

NYSE BALY traded up $0.93 during trading on Monday, reaching $10.53. The company's stock had a trading volume of 132,244 shares, compared to its average volume of 310,231. The firm has a fifty day moving average of $13.44 and a 200 day moving average of $15.99. Bally's Co. has a one year low of $9.11 and a one year high of $18.98. The stock has a market capitalization of $516.11 million, a PE ratio of -0.70 and a beta of 2.04. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of ($0.76) by $1.34. The company had revenue of $580.37 million for the quarter, compared to analysts' expectations of $589.83 million. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. Analysts expect that Bally's Co. will post -7.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BALY has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Citizens Jmp upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Finally, Barclays decreased their price target on Bally's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $16.96.

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.