Bally’s Co. (NYSE:BALY) Shares Bought by Olympiad Research LP

Olympiad Research LP grew its position in Bally’s Co. (NYSE:BALY) by 545.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,347 shares of the company’s stock after purchasing an additional 98,335 shares during the period. Bally’s makes up 1.3% of Olympiad Research LP’s holdings, making the stock its 11th largest position. Olympiad Research LP owned approximately 0.29% of Bally’s worth $2,007,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BALY. SG Americas Securities LLC purchased a new stake in Bally’s in the third quarter valued at $153,000. Quest Partners LLC purchased a new stake in shares of Bally’s in the second quarter worth about $131,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Bally’s in the second quarter worth about $217,000. Price T Rowe Associates Inc. MD grew its holdings in Bally’s by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after acquiring an additional 1,394 shares during the period. Finally, PEAK6 Investments LLC raised its position in Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after acquiring an additional 4,446 shares in the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Stock Performance

BALY opened at $17.62 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 9.28. The company has a market cap of $716.48 million, a price-to-earnings ratio of -1.59 and a beta of 2.07. Bally’s Co. has a 52-week low of $8.53 and a 52-week high of $18.00. The firm’s fifty day simple moving average is $17.34 and its two-hundred day simple moving average is $15.01.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.74). The company had revenue of $629.97 million for the quarter, compared to analysts’ expectations of $650.63 million. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. Equities analysts anticipate that Bally’s Co. will post -5.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BALY shares. 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. Jefferies Financial Group lifted their price objective on shares of Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised shares of Bally’s from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $11.00 to $18.25 in a research note on Monday, July 29th. TD Cowen restated a “hold” rating and issued a $18.25 price target (up previously from $15.00) on shares of Bally’s in a research note on Friday, July 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Bally’s presently has an average rating of “Hold” and a consensus price target of $17.14.

Bally’s Company Profile

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.