Yakira Capital Management Inc. Acquires 47,943 Shares of Bally's Co. (NYSE:BALY)

Yakira Capital Management Inc. increased its holdings in Bally's Co. (NYSE:BALY - Free Report) by 40.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,300 shares of the company's stock after purchasing an additional 47,943 shares during the period. Yakira Capital Management Inc. owned approximately 0.41% of Bally's worth $2,957,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BALY. King Street Capital Management L.P. acquired a new stake in shares of Bally's in the third quarter worth about $6,784,000. Alliancebernstein L.P. lifted its holdings in Bally's by 6.3% in the 4th quarter. Alliancebernstein L.P. now owns 379,812 shares of the company's stock worth $6,795,000 after purchasing an additional 22,573 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in Bally's by 30.3% in the 4th 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 last quarter. Vestcor Inc boosted its position in 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 purchasing an additional 594 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Bally's by 58.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,000 shares of the company's stock valued at $1,700,000 after purchasing an additional 35,000 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citizens Jmp upgraded shares of Bally's to a "hold" rating in a research note on Tuesday, March 18th. Stifel Nicolaus cut their target price on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Finally, Barclays lowered their price target on Bally's from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. 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.com, Bally's presently has an average rating of "Hold" and a consensus target price of $17.13.

Bally's Stock Performance

Bally's stock traded up $0.14 during mid-day trading on Friday, reaching $14.21. The company had a trading volume of 13,008 shares, compared to its average volume of 347,997. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The firm has a market cap of $689.33 million, a price-to-earnings ratio of -0.94 and a beta of 2.02. The company has a 50 day moving average of $15.45 and a 200-day moving average of $16.94. Bally's Co. has a 52 week low of $10.00 and a 52 week high of $18.98.

Bally's (NYSE:BALY - Get Free Report) last released its earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, beating 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 business had revenue of $580.37 million during the quarter, compared to analysts' expectations of $589.83 million. On average, sell-side analysts expect that Bally's Co. will post -7.26 EPS 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.