Sagefield Capital LP Cuts Stock Position in Bally's Co. (NYSE:BALY)

Sagefield Capital LP lessened its stake in shares of Bally's Co. (NYSE:BALY - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 135,135 shares of the company's stock after selling 36,353 shares during the period. Sagefield Capital LP owned approximately 0.33% of Bally's worth $2,418,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Man Group plc purchased a new stake in shares of Bally's in the 4th quarter valued at $5,187,000. K2 Principal Fund L.P. purchased a new stake in shares of Bally's in the 4th quarter valued at $1,262,000. Eisler Capital Management Ltd. purchased a new stake in shares of Bally's in the 4th quarter valued at $4,699,000. Deutsche Bank AG boosted its holdings in shares of Bally's by 49.1% in the 4th quarter. Deutsche Bank AG now owns 22,715 shares of the company's stock valued at $406,000 after acquiring an additional 7,485 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Bally's by 88.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company's stock valued at $18,916,000 after acquiring an additional 496,933 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company's stock.

Bally's Trading Up 1.7%

Shares of BALY opened at $11.02 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally's Co. has a 12-month low of $10.00 and a 12-month high of $18.98. The firm has a 50-day moving average price of $14.16 and a 200 day moving average price of $16.26. The firm has a market capitalization of $534.77 million, a P/E ratio of -0.73 and a beta of 2.04.

Bally's (NYSE:BALY - Get Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates of $589.83 million. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. Sell-side analysts forecast that Bally's Co. will post -7.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citizens Jmp upgraded shares of Bally's to a "hold" rating in a research note on Tuesday, March 18th. Stifel Nicolaus decreased their target price 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. Finally, 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. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.96.

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.

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