Napatree Capital LLC Trims Stock Position in Bally's Corporation (NYSE:BALY)

Napatree Capital LLC trimmed its holdings in shares of Bally's Corporation (NYSE:BALY - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,701 shares of the company's stock after selling 43,626 shares during the period. Bally's comprises approximately 1.0% of Napatree Capital LLC's portfolio, making the stock its 22nd largest position. Napatree Capital LLC owned about 0.31% of Bally's worth $1,866,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BALY. BNP Paribas Financial Markets purchased a new stake in shares of Bally's during the fourth quarter worth about $58,000. Intech Investment Management LLC purchased a new stake in shares of Bally's during the fourth quarter worth about $196,000. Spirepoint Private Client LLC purchased a new stake in shares of Bally's during the first quarter worth about $246,000. Two Sigma Advisers LP purchased a new stake in shares of Bally's during the fourth quarter worth about $250,000. Finally, Wells Fargo & Company MN lifted its holdings in Bally's by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock worth $251,000 after buying an additional 860 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally's Price Performance

Shares of BALY traded down $0.19 during trading hours on Friday, reaching $9.81. 49,133 shares of the stock traded hands, compared to its average volume of 296,228. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 4.24. Bally's Corporation has a 52-week low of $8.46 and a 52-week high of $18.98. The company's 50-day moving average price is $10.22 and its two-hundred day moving average price is $13.90.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lowered their price objective on shares of Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday. Barclays decreased their target price on shares of Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.75.

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.