Gabelli Funds LLC Raises Stock Holdings in Bally's Co. (NYSE:BALY)

Gabelli Funds LLC boosted its holdings in shares of Bally's Co. (NYSE:BALY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 369,934 shares of the company's stock after purchasing an additional 25,786 shares during the quarter. Gabelli Funds LLC owned about 0.91% of Bally's worth $6,618,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

BALY has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of 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. Stifel Nicolaus decreased their price target 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, Citizens Jmp raised shares of Bally's to a "hold" rating in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.13.

Bally's Stock Performance

Shares of NYSE:BALY traded up $0.74 during midday trading on Tuesday, reaching $17.26. The company's stock had a trading volume of 33,918 shares, compared to its average volume of 28,346. The firm has a market capitalization of $837.28 million, a PE ratio of -1.15 and a beta of 2.02. The stock has a fifty day moving average of $15.38 and a 200 day moving average of $16.90. Bally's Co. has a twelve month low of $10.00 and a twelve month high of $23.20. 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 (NYSE:BALY - Get Free Report) last issued its earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to the consensus estimate of $589.83 million. Bally's had a negative return on equity of 79.10% and a negative net margin of 30.04%. On average, equities analysts expect that Bally's Co. will post -7.26 EPS for the current fiscal year.

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.