Bally’s Corporation $BALY is Standard General L.P.’s Largest Position

Standard General L.P. decreased its holdings in shares of Bally’s Corporation (NYSE:BALY) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,480,973 shares of the company’s stock after selling 878,771 shares during the quarter. Bally’s comprises approximately 96.1% of Standard General L.P.’s investment portfolio, making the stock its largest holding. Standard General L.P. owned about 0.66% of Bally’s worth $536,586,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BALY. JPMorgan Chase & Co. lifted its stake in Bally’s by 21,781.4% during the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after purchasing an additional 754,945 shares during the last quarter. Geode Capital Management LLC boosted its stake in Bally’s by 113.1% in the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after acquiring an additional 87,346 shares in the last quarter. JB Capital Partners LP purchased a new position in shares of Bally’s during the third quarter worth about $555,000. State Street Corp grew its holdings in shares of Bally’s by 32.6% during the fourth quarter. State Street Corp now owns 116,903 shares of the company’s stock worth $1,931,000 after purchasing an additional 28,741 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Bally’s during the third quarter worth about $119,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Price Performance

BALY stock opened at $13.58 on Wednesday. The company has a market capitalization of $664.74 million, a P/E ratio of -1.67 and a beta of 1.80. Bally’s Corporation has a twelve month low of $8.45 and a twelve month high of $20.74. The business has a 50 day simple moving average of $12.64 and a 200-day simple moving average of $14.09. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.87.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Monday, May 18th. The company reported ($2.69) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.69). The firm had revenue of $755.72 million during the quarter, compared to analyst estimates of $769.69 million. Bally’s had a negative net margin of 29.98% and a negative return on equity of 56.76%. As a group, equities analysts anticipate that Bally’s Corporation will post -9.36 EPS for the current year.

Analyst Ratings Changes

BALY has been the topic of several research reports. Wall Street Zen lowered Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a report on Friday, April 24th. Truist Financial decreased their price objective on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a report on Friday, March 27th. Barclays decreased their price objective on Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, May 20th. Finally, Stifel Nicolaus increased their price objective on Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $12.75.

Bally’s Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.