Intech Investment Management LLC Acquires Shares of 10,977 Bally’s Co. (NYSE:BALY)

Intech Investment Management LLC bought a new stake in shares of Bally’s Co. (NYSE:BALY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 10,977 shares of the company’s stock, valued at approximately $196,000.

A number of other large investors also recently made changes to their positions in BALY. Skandinaviska Enskilda Banken AB publ increased its holdings in Bally’s by 54.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 84,761 shares of the company’s stock valued at $1,513,000 after purchasing an additional 30,000 shares during the last quarter. Vestcor Inc raised its position in shares of Bally’s by 0.6% in the 4th quarter. Vestcor Inc now owns 100,594 shares of the company’s stock valued at $1,800,000 after acquiring an additional 594 shares during the period. Proficio Capital Partners LLC bought a new position in Bally’s during the 4th quarter worth approximately $401,000. Wolverine Asset Management LLC grew its holdings in Bally’s by 30.3% during the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock valued at $3,099,000 after purchasing an additional 40,250 shares during the period. Finally, Alberta Investment Management Corp increased its stake in Bally’s by 54.0% in the fourth quarter. Alberta Investment Management Corp now owns 38,503 shares of the company’s stock valued at $689,000 after purchasing an additional 13,503 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Stock Down 13.7 %

BALY stock opened at $13.95 on Thursday. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The stock has a market capitalization of $676.47 million, a P/E ratio of -0.93 and a beta of 2.14. Bally’s Co. has a fifty-two week low of $10.00 and a fifty-two week high of $18.98. The business has a 50-day moving average of $16.84 and a 200-day moving average of $17.34.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $1.34. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The firm had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. On average, sell-side analysts anticipate that Bally’s Co. will post -7.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BALY shares. Barclays decreased their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Citizens Jmp upgraded Bally’s to a “hold” rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price objective on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.13.

Bally’s Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.