Proficio Capital Partners LLC Takes Position in Bally's Co. (NYSE:BALY)

Proficio Capital Partners LLC acquired a new position in Bally's Co. (NYSE:BALY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,434 shares of the company's stock, valued at approximately $401,000. Proficio Capital Partners LLC owned about 0.06% of Bally's as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BALY. Wolverine Asset Management LLC increased 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 worth $3,099,000 after purchasing an additional 40,250 shares during the period. Alberta Investment Management Corp increased its stake in Bally's by 54.0% in the 4th quarter. Alberta Investment Management Corp now owns 38,503 shares of the company's stock worth $689,000 after purchasing an additional 13,503 shares during the period. SG Americas Securities LLC boosted its position in 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 buying an additional 624 shares during the period. JPMorgan Chase & Co. grew its stake 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 worth $707,000 after purchasing an additional 22,425 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Bally's during the third quarter valued at approximately $482,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. Barclays dropped their target price 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 research note on Tuesday, March 18th. Seven equities research 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 stock has a consensus rating of "Hold" and an average price target of $17.13.

Bally's Price Performance

Shares of Bally's stock traded down $0.76 during trading hours on Friday, reaching $11.88. The stock had a trading volume of 26,535 shares, compared to its average volume of 362,572. The firm has a market capitalization of $576.20 million, a PE ratio of -0.79 and a beta of 2.14. The stock's 50 day moving average is $16.73 and its 200 day moving average is $17.31. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally's Co. has a twelve month low of $10.00 and a twelve month high of $18.98.

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