Alpine Associates Management Inc. Sells 55,100 Shares of Bally's Co. (NYSE:BALY)

Alpine Associates Management Inc. trimmed its holdings in shares of Bally's Co. (NYSE:BALY - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,490,683 shares of the company's stock after selling 55,100 shares during the quarter. Bally's accounts for approximately 1.6% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 20th largest holding. Alpine Associates Management Inc. owned approximately 3.67% of Bally's worth $26,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Proficio Capital Partners LLC bought a new stake in shares of Bally's during the fourth quarter worth $401,000. Wolverine Asset Management LLC raised its holdings in shares of Bally's by 30.3% in the fourth 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 in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Bally's by 54.0% in the fourth quarter. Alberta Investment Management Corp now owns 38,503 shares of the company's stock valued at $689,000 after acquiring an additional 13,503 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 acquiring an additional 624 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Bally's by 120.7% in the third quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company's stock valued at $707,000 after acquiring an additional 22,425 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

Bally's Trading Down 2.6 %

Bally's stock opened at $12.21 on Friday. The stock has a 50-day moving average of $17.02 and a two-hundred day moving average of $17.33. 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 one year low of $10.00 and a one year high of $18.38. The stock has a market cap of $496.34 million, a PE ratio of -0.81 and a beta of 2.05.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their price objective on Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.29.

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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.

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