Orvieto Partners L.P. Invests $947,000 in Bally's Co. (NYSE:BALY)

Orvieto Partners L.P. bought a new stake in Bally's Co. (NYSE:BALY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 52,910 shares of the company's stock, valued at approximately $947,000. Orvieto Partners L.P. owned 0.13% of Bally's as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in Bally's by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock valued at $170,000 after purchasing an additional 624 shares during the period. Yakira Capital Management Inc. increased its position 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 worth $2,957,000 after acquiring an additional 47,943 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bally's by 120.7% during the third quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company's stock worth $707,000 after acquiring an additional 22,425 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Bally's during the fourth quarter worth about $401,000. Finally, Wolverine Asset Management LLC increased its position in shares of 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. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally's Stock Performance

BALY stock traded up $0.18 during midday trading on Tuesday, reaching $12.94. The company had a trading volume of 19,944 shares, compared to its average volume of 328,076. 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 stock has a 50 day moving average price of $15.24 and a 200 day moving average price of $16.80. Bally's Co. has a fifty-two week low of $10.00 and a fifty-two week high of $18.98. The firm has a market capitalization of $627.48 million, a PE ratio of -0.86 and a beta of 2.02.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays dropped their target price on Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Stifel Nicolaus decreased their price target on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Finally, Citizens Jmp upgraded 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, Bally's presently has a consensus rating of "Hold" and an average target price of $17.13.

Bally's Company 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.