Skandinaviska Enskilda Banken AB publ Purchases 30,000 Shares of Bally's Co. (NYSE:BALY)

Skandinaviska Enskilda Banken AB publ raised its position in Bally's Co. (NYSE:BALY - Free Report) by 54.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,761 shares of the company's stock after buying an additional 30,000 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.21% of Bally's worth $1,513,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. bought a new position in Bally's in the 3rd quarter valued at $26,665,000. Citigroup Inc. increased its position in Bally's by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company's stock worth $7,631,000 after purchasing an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Bally's during the 3rd quarter worth about $7,326,000. King Street Capital Management L.P. acquired a new position in Bally's during the 3rd quarter valued at about $6,784,000. Finally, Glazer Capital LLC acquired a new stake in shares of Bally's during the 3rd quarter worth approximately $4,369,000. 70.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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Bally's Stock Up 5.0 %

BALY traded up $0.85 during trading on Friday, reaching $17.92. The company had a trading volume of 451,951 shares, compared to its average volume of 363,739. Bally's Co. has a 12 month low of $10.00 and a 12 month high of $19.98. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The business's fifty day moving average price is $16.96 and its 200 day moving average price is $17.36. The company has a market cap of $867.28 million, a P/E ratio of -1.19 and a beta of 2.14.

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

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.