Olympiad Research LP Purchases 98,335 Shares of Bally's Co. (NYSE:BALY)

Olympiad Research LP grew its holdings in shares of Bally's Co. (NYSE:BALY - Free Report) by 545.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,347 shares of the company's stock after purchasing an additional 98,335 shares during the quarter. Bally's comprises about 1.3% of Olympiad Research LP's investment portfolio, making the stock its 11th biggest position. Olympiad Research LP owned approximately 0.29% of Bally's worth $2,007,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BALY. SG Americas Securities LLC bought a new stake in shares of Bally's during the 3rd quarter worth $153,000. Quest Partners LLC bought a new position in shares of Bally's in the second quarter worth about $131,000. Pekin Hardy Strauss Inc. bought a new position in shares of Bally's in the second quarter worth about $217,000. Price T Rowe Associates Inc. MD lifted its position in shares of Bally's by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company's stock worth $281,000 after purchasing an additional 1,394 shares during the last quarter. Finally, PEAK6 Investments LLC boosted its stake in Bally's by 20.2% during the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company's stock valued at $369,000 after purchasing an additional 4,446 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Bally's Price Performance

Shares of BALY traded up $0.07 on Thursday, hitting $17.69. The company's stock had a trading volume of 572,762 shares, compared to its average volume of 464,828. The company has a 50 day moving average price of $17.35 and a 200 day moving average price of $15.03. Bally's Co. has a fifty-two week low of $9.54 and a fifty-two week high of $18.00. The company has a market capitalization of $719.33 million, a PE ratio of -1.59 and a beta of 2.07. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Bally's (NYSE:BALY - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($0.25) by ($1.74). The business had revenue of $629.97 million for the quarter, compared to the consensus estimate of $650.63 million. Bally's had a negative return on equity of 51.13% and a negative net margin of 22.52%. On average, research analysts anticipate that Bally's Co. will post -5.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upgraded Bally's from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $11.00 to $18.25 in a report on Monday, July 29th. TD Cowen restated a "hold" rating and issued a $18.25 price target (up from $15.00) on shares of Bally's in a research report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of Bally's from $14.00 to $18.25 and gave the company a "hold" rating in a research note on Thursday, August 1st. JMP Securities restated a "market perform" rating on shares of Bally's in a research note on Monday, July 15th. Finally, Barclays boosted their price target on shares of Bally's from $10.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Bally's has an average rating of "Hold" and a consensus price target of $17.14.

Bally's Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.