Wolverine Asset Management LLC Purchases 37,876 Shares of Bally's Co. (NYSE:BALY)

Wolverine Asset Management LLC boosted its holdings in Bally's Co. (NYSE:BALY - Free Report) by 39.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,988 shares of the company's stock after purchasing an additional 37,876 shares during the period. Wolverine Asset Management LLC owned approximately 0.33% of Bally's worth $2,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alden Global Capital LLC raised its position in Bally's by 63.6% in the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company's stock worth $17,068,000 after acquiring an additional 554,263 shares during the period. Olympiad Research LP lifted its holdings in shares of Bally's by 545.9% in the 3rd quarter. Olympiad Research LP now owns 116,347 shares of the company's stock worth $2,007,000 after acquiring an additional 98,335 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Bally's in the 2nd quarter worth about $1,053,000. Whitebox Advisors LLC bought a new stake in Bally's during the 1st quarter valued at about $1,152,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Bally's in the 2nd quarter valued at about $843,000. 70.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen reissued a "hold" rating and set a $18.25 target price (up previously from $15.00) on shares of Bally's in a research report on Friday, July 26th. Jefferies Financial Group boosted their price objective on shares of Bally's from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Wells Fargo & Company raised shares of Bally's from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $11.00 to $18.25 in a report on Monday, July 29th. JMP Securities reiterated a "market perform" rating on shares of Bally's in a research report on Monday, July 15th. Finally, Truist Financial reaffirmed a "hold" rating and set a $18.25 price objective (up previously from $16.00) on shares of Bally's in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.14.

Bally's Trading Down 0.1 %

BALY stock traded down $0.01 during mid-day trading on Tuesday, reaching $17.80. The company had a trading volume of 559,576 shares, compared to its average volume of 468,489. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58. The firm has a 50 day moving average of $17.39 and a 200 day moving average of $15.12. Bally's Co. has a 12 month low of $9.74 and a 12 month high of $18.00. The company has a market capitalization of $723.80 million, a PE ratio of -1.18 and a beta of 2.07.

About Bally's

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.