Exchange Traded Concepts LLC Has $1.09 Million Stock Position in Bally’s Co. (NYSE:BALY)

Exchange Traded Concepts LLC cut its position in Bally’s Co. (NYSE:BALY) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,105 shares of the company’s stock after selling 9,500 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.16% of Bally’s worth $1,089,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BALY. Quest Partners LLC bought a new stake in Bally’s during the second quarter valued at about $131,000. SG Americas Securities LLC acquired a new position in shares of Bally’s during the 3rd quarter worth about $153,000. Pekin Hardy Strauss Inc. bought a new stake in Bally’s during the 2nd quarter valued at approximately $217,000. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $281,000 after buying an additional 1,394 shares during the last quarter. Finally, PEAK6 Investments LLC increased its position in Bally’s by 20.2% in the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares during the period. Institutional investors own 70.41% of the company’s stock.

Bally’s Stock Performance

NYSE:BALY opened at $17.50 on Thursday. The firm has a market capitalization of $711.03 million, a PE ratio of -1.58 and a beta of 2.08. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 9.28. Bally’s Co. has a 12-month low of $7.28 and a 12-month high of $18.00. The firm has a 50-day moving average price of $17.24 and a 200 day moving average price of $14.64.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BALY shares. Wells Fargo & Company raised Bally’s from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $11.00 to $18.25 in a research report on Monday, July 29th. TD Cowen restated a “hold” rating and issued a $18.25 price target (up from $15.00) on shares of Bally’s in a research report on Friday, July 26th. JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Barclays lifted their target price on Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price target on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bally’s presently has an average rating of “Hold” and a consensus price target 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.