Wolverine Asset Management LLC Increases Holdings in Bally’s Co. (NYSE:BALY)

Wolverine Asset Management LLC grew its holdings in Bally’s Co. (NYSE:BALY) by 200.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,951 shares of the company’s stock after acquiring an additional 26,640 shares during the quarter. Wolverine Asset Management LLC owned about 0.09% of Bally’s worth $557,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BALY. Strs Ohio increased its stake in Bally’s by 77.2% in the fourth quarter. Strs Ohio now owns 43,600 shares of the company’s stock valued at $607,000 after purchasing an additional 19,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after buying an additional 93,681 shares during the last quarter. Garde Capital Inc. raised its stake in Bally’s by 25.0% during the 3rd quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after acquiring an additional 2,000 shares in the last quarter. AQR Capital Management LLC lifted its position in Bally’s by 8.8% in the third quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock valued at $4,385,000 after acquiring an additional 27,003 shares during the last quarter. Finally, HG Vora Capital Management LLC boosted its stake in Bally’s by 11.1% in the third quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock valued at $32,775,000 after acquiring an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Trading Down 0.1 %

Shares of BALY stock opened at $13.98 on Friday. Bally’s Co. has a 52-week low of $7.28 and a 52-week high of $17.83. The stock’s 50-day moving average price is $12.74 and its 200 day moving average price is $11.82. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65.

Bally’s (NYSE:BALY) last released its earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.31). Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. The business had revenue of $611.67 million for the quarter, compared to analyst estimates of $626.62 million. Analysts predict that Bally’s Co. will post -3.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on BALY shares. Truist Financial lifted their target price on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Macquarie cut Bally’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Wednesday, January 17th. Wells Fargo & Company reiterated an “underweight” rating and set a $10.00 target price on shares of Bally’s in a research report on Friday, January 5th. Finally, Stifel Nicolaus cut their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.29.

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.