GABELLI & Co INVESTMENT ADVISERS INC. Increases Stock Position in Bally's Co. (NYSE:BALY)

GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Bally's Co. (NYSE:BALY - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 251,000 shares of the company's stock after purchasing an additional 63,300 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.62% of Bally's worth $4,490,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vestcor Inc grew its holdings in shares of Bally's by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company's stock worth $1,800,000 after buying an additional 594 shares in the last quarter. SG Americas Securities LLC grew its stake in Bally's by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company's stock worth $170,000 after acquiring an additional 624 shares during the period. Wells Fargo & Company MN raised its holdings in Bally's by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock valued at $251,000 after acquiring an additional 860 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Bally's by 2.3% during the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company's stock worth $2,533,000 after purchasing an additional 3,125 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Bally's during the fourth quarter worth $196,000. Hedge funds and other institutional investors own 70.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BALY. Stifel Nicolaus dropped their target price 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. Barclays cut their price objective on shares of Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th. Finally, Citizens Jmp upgraded shares of Bally's to a "hold" rating in a report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $17.13.

Bally's Trading Up 11.2 %

Shares of NYSE BALY traded up $1.82 during midday trading on Friday, hitting $18.08. The stock had a trading volume of 23,571 shares, compared to its average volume of 341,668. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally's Co. has a 1-year low of $10.00 and a 1-year high of $18.98. The company has a market capitalization of $876.96 million, a price-to-earnings ratio of -1.20 and a beta of 2.02. The company has a fifty day moving average price of $15.37 and a 200 day moving average price of $16.91.

Bally's (NYSE:BALY - Get Free Report) last released 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. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. The company had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. On average, analysts predict that Bally's Co. will post -7.26 earnings per share for the current year.

Bally's 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.