Legal & General Group Plc Cuts Stock Position in Bally’s Co. (NYSE:BALY)

Legal & General Group Plc decreased its position in shares of Bally’s Co. (NYSE:BALY) by 22.1% in the fourth quarter, HoldingsChannel reports. The fund owned 26,250 shares of the company’s stock after selling 7,461 shares during the quarter. Legal & General Group Plc’s holdings in Bally’s were worth $470,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after purchasing an additional 624 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Bally’s in the fourth quarter valued at about $196,000. Wells Fargo & Company MN boosted its holdings in Bally’s by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after acquiring an additional 860 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Bally’s in the fourth quarter worth about $401,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bally’s during the third quarter worth about $482,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BALY. Stifel Nicolaus lowered their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Citizens Jmp raised shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Finally, Barclays reduced their target price on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.13.

Bally’s Stock Performance

NYSE BALY opened at $12.73 on Wednesday. The firm has a market capitalization of $617.68 million, a P/E ratio of -0.85 and a beta of 2.02. The stock has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $16.77. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. Bally’s Co. has a fifty-two week low of $10.00 and a fifty-two week high of $18.98.

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

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.