Geode Capital Management LLC Sells 272,668 Shares of Bally's Co. (NYSE:BALY)

Geode Capital Management LLC lessened its stake in shares of Bally's Co. (NYSE:BALY - Free Report) by 49.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 279,892 shares of the company's stock after selling 272,668 shares during the period. Geode Capital Management LLC owned about 0.69% of Bally's worth $5,007,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BALY. Arrowstreet Capital Limited Partnership bought a new position in shares of Bally's in the fourth quarter worth about $1,505,000. JPMorgan Chase & Co. grew its stake in shares of Bally's by 131.7% during the 4th quarter. JPMorgan Chase & Co. now owns 94,979 shares of the company's stock worth $1,699,000 after purchasing an additional 53,978 shares during the period. Wolverine Asset Management LLC grew its stake in Bally's by 30.3% in the 4th quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company's stock valued at $3,099,000 after acquiring an additional 40,250 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Bally's by 58.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,000 shares of the company's stock worth $1,700,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Bally's by 54.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company's stock valued at $1,513,000 after buying an additional 30,000 shares during the period. Hedge funds and other institutional investors own 70.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BALY shares. Citizens Jmp upgraded shares of Bally's to a "hold" rating in a research report on Tuesday, March 18th. Barclays dropped their target price on shares of Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Finally, Stifel Nicolaus cut their price objective on Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $17.13.

Bally's Stock Performance

Shares of Bally's stock traded down $0.12 during trading on Thursday, reaching $12.38. The company's stock had a trading volume of 14,367 shares, compared to its average volume of 326,061. Bally's Co. has a 52 week low of $10.00 and a 52 week high of $18.98. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The business's 50-day moving average price is $15.06 and its 200-day moving average price is $16.74. The firm has a market cap of $600.51 million, a PE ratio of -0.82 and a beta of 2.02.

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

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.