GABELLI & Co INVESTMENT ADVISERS INC. Has $4.49 Million Stake in Bally's Co. (NYSE:BALY)

GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Bally's Co. (NYSE:BALY - Free Report) by 33.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,000 shares of the company's stock after acquiring an additional 63,300 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.62% of Bally's worth $4,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BALY. Alliancebernstein L.P. lifted its position in Bally's by 6.3% in the fourth quarter. Alliancebernstein L.P. now owns 379,812 shares of the company's stock valued at $6,795,000 after buying an additional 22,573 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Bally's by 7.5% during the 4th quarter. Gabelli Funds LLC now owns 369,934 shares of the company's stock worth $6,618,000 after purchasing an additional 25,786 shares during the period. Wolverine Asset Management LLC raised its position in Bally's by 30.3% during the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company's stock worth $3,099,000 after acquiring an additional 40,250 shares during the last quarter. Yakira Capital Management Inc. lifted its stake in shares of Bally's by 40.9% during the fourth quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company's stock valued at $2,957,000 after buying an additional 47,943 shares during the period. Finally, Invesco Ltd. boosted its stake in Bally's by 2.3% in the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company's stock worth $2,533,000 after buying an additional 3,125 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company's stock.

Bally's Stock Up 11.2 %

Shares of BALY stock traded up $1.82 during trading on Friday, hitting $18.08. 23,571 shares of the company were exchanged, compared to its average volume of 338,389. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. Bally's Co. has a twelve month low of $10.00 and a twelve month high of $18.98. The business's 50-day simple moving average is $15.37 and its 200 day simple moving average is $16.91. The firm has a market capitalization of $876.96 million, a price-to-earnings ratio of -1.20 and a beta of 2.02.

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

Analyst Upgrades and Downgrades

BALY has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Barclays decreased their target price on Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Finally, Citizens Jmp upgraded shares of Bally's to a "hold" rating in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $17.13.

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.