Aigen Investment Management LP Sells 3,797 Shares of Bally’s Co. (NYSE:BALY)

Aigen Investment Management LP lowered its stake in Bally’s Co. (NYSE:BALY) by 32.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,875 shares of the company’s stock after selling 3,797 shares during the quarter. Aigen Investment Management LP’s holdings in Bally’s were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BALY. New York State Common Retirement Fund increased its stake in shares of Bally’s by 12.6% during the first quarter. New York State Common Retirement Fund now owns 202,062 shares of the company’s stock valued at $13,130,000 after buying an additional 22,660 shares during the period. Silvant Capital Management LLC purchased a new position in shares of Bally’s during the first quarter valued at approximately $337,000. Jennison Associates LLC purchased a new position in shares of Bally’s during the first quarter valued at approximately $9,779,000. Lord Abbett & CO. LLC purchased a new position in shares of Bally’s during the first quarter valued at approximately $17,426,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Bally’s during the first quarter valued at approximately $6,777,000. Hedge funds and other institutional investors own 68.61% of the company’s stock.

BALY stock opened at $52.48 on Friday. Bally’s Co. has a fifty-two week low of $19.50 and a fifty-two week high of $75.92. The firm has a 50-day moving average price of $57.32. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.94 and a current ratio of 2.00. The company has a market capitalization of $2.23 billion, a P/E ratio of -218.66 and a beta of 2.58.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Sunday, May 9th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $156.56 million. Bally’s had a positive return on equity of 3.32% and a negative net margin of 1.60%. The business’s revenue for the quarter was up 76.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Bally’s Co. will post 1.96 EPS for the current year.

In related news, major shareholder General L.P. Standard sold 909,090 shares of the stock in a transaction dated Friday, April 16th. The stock was sold at an average price of $55.00, for a total transaction of $49,999,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marc A. Crisafulli sold 10,000 shares of the stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $74.58, for a total value of $745,800.00. Following the sale, the executive vice president now owns 23,267 shares of the company’s stock, valued at approximately $1,735,252.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 975,563 shares of company stock valued at $54,696,925. Company insiders own 39.40% of the company’s stock.

Several brokerages recently weighed in on BALY. Jefferies Financial Group began coverage on Bally’s in a research note on Wednesday, April 21st. They issued a “buy” rating and a $66.00 price target on the stock. TheStreet cut Bally’s from a “c” rating to a “d+” rating in a research note on Thursday, March 4th. Stifel Nicolaus upped their price target on Bally’s from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, March 25th. Truist upped their price target on Bally’s from $65.00 to $80.00 in a report on Wednesday, February 24th. Finally, Zacks Investment Research raised Bally’s from a “sell” rating to a “hold” rating in a report on Thursday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.40.

About Bally’s

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Bally`s (NYSE:BALY)

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