SG Americas Securities LLC Invests $153,000 in Bally’s Co. (NYSE:BALY)

SG Americas Securities LLC acquired a new stake in Bally’s Co. (NYSE:BALY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,869 shares of the company’s stock, valued at approximately $153,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC lifted its stake in shares of Bally’s by 34.8% in the 2nd quarter. Algert Global LLC now owns 65,176 shares of the company’s stock valued at $780,000 after purchasing an additional 16,826 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Bally’s in the second quarter valued at about $843,000. Alden Global Capital LLC increased its holdings 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 valued at $17,068,000 after purchasing an additional 554,263 shares during the last quarter. DRW Securities LLC acquired a new position in Bally’s in the second quarter valued at about $1,053,000. Finally, Gabelli Funds LLC boosted its holdings in Bally’s by 0.8% during the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock worth $2,047,000 after buying an additional 1,376 shares during the last quarter. 70.41% of the stock is owned by institutional investors.

Bally’s Trading Down 0.1 %

NYSE BALY opened at $17.38 on Friday. Bally’s Co. has a 12 month low of $7.28 and a 12 month high of $18.00. 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 stock has a 50 day moving average of $17.28 and a 200-day moving average of $14.77. The company has a market cap of $706.67 million, a PE ratio of -1.56 and a beta of 2.08.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.23. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. The firm had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. During the same period in the prior year, the firm posted ($0.25) earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Bally’s Co. will post -5.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus upped their price target on Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research note on Thursday, August 1st. Truist Financial reaffirmed a “hold” rating and set a $18.25 price target (up from $16.00) on shares of Bally’s in a research note on Friday, July 26th. TD Cowen reissued a “hold” rating and issued a $18.25 price objective (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Wells Fargo & Company upgraded 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 report on Monday, July 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of Bally’s in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Bally’s currently has a consensus rating of “Hold” and an average target price 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.