Virtu Financial LLC Lowers Stake in Bally’s Co. (NYSE:BALY)

Virtu Financial LLC trimmed its position in shares of Bally’s Co. (NYSE:BALY) by 50.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,940 shares of the company’s stock after selling 13,984 shares during the quarter. Virtu Financial LLC’s holdings in Bally’s were worth $249,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Bally’s by 8.8% during the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock worth $7,631,000 after acquiring an additional 35,901 shares during the last quarter. Algert Global LLC raised its holdings in shares of Bally’s by 21.3% during the third quarter. Algert Global LLC now owns 79,033 shares of the company’s stock worth $1,363,000 after purchasing an additional 13,857 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Bally’s in the 3rd quarter valued at about $431,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Bally’s in the 3rd quarter worth approximately $7,326,000. Finally, Verition Fund Management LLC purchased a new stake in Bally’s during the third quarter worth $3,754,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bally’s Stock Performance

Shares of BALY stock opened at $11.88 on Friday. Bally’s Co. has a one year low of $10.00 and a one year high of $18.98. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The firm’s 50 day moving average price is $16.61 and its 200-day moving average price is $17.28. The firm has a market cap of $576.20 million, a P/E ratio of -0.79 and a beta of 2.14.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of ($0.76) by $1.34. The business had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. As a group, equities research analysts predict that Bally’s Co. will post -7.26 EPS for the current year.

About Bally’s

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.