Susquehanna Fundamental Investments LLC Purchases New Holdings in Bally’s Co. (NYSE:BALY)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Bally’s Co. (NYSE:BALY) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 70,391 shares of the company’s stock, valued at approximately $843,000.

A number of other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Bally’s by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after buying an additional 1,064 shares during the last quarter. Gabelli Funds LLC raised its holdings in Bally’s by 0.8% in the 2nd quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $2,047,000 after acquiring an additional 1,376 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Bally’s by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares in the last quarter. PEAK6 Investments LLC boosted its holdings in shares of Bally’s by 20.2% during the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Garde Capital Inc. grew its position in shares of Bally’s by 50.0% in the fourth quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Stock Up 0.7 %

Shares of BALY opened at $17.43 on Thursday. The company’s 50-day moving average price is $17.16 and its 200 day moving average price is $14.36. Bally’s Co. has a 12-month low of $7.28 and a 12-month high of $17.73. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 9.28. The firm has a market cap of $705.65 million, a P/E ratio of -1.68 and a beta of 2.09.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.23. The business had revenue of $621.66 million for the quarter, compared to the consensus estimate of $641.17 million. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) EPS. On average, sell-side analysts forecast that Bally’s Co. will post -5.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

BALY has been the topic of a number of analyst reports. TD Cowen reiterated a “hold” rating and set a $18.25 price objective (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised shares of Bally’s from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $18.25 in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.14.

Bally’s 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.