Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 35,000 Shares of Bally’s Co. (NYSE:BALY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Bally’s Co. (NYSE:BALY) by 58.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,000 shares of the company’s stock after purchasing an additional 35,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bally’s were worth $1,700,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Bally’s in the 3rd quarter valued at $7,326,000. King Street Capital Management L.P. bought a new stake in shares of Bally’s in the third quarter valued at about $6,784,000. Glazer Capital LLC acquired a new stake in Bally’s during the third quarter worth about $4,369,000. Verition Fund Management LLC bought a new position in Bally’s during the third quarter valued at about $3,754,000. Finally, Centiva Capital LP acquired a new position in Bally’s in the 3rd quarter valued at approximately $3,487,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Stock Down 8.4 %

Shares of NYSE BALY opened at $16.06 on Wednesday. The business has a fifty day moving average of $16.92 and a two-hundred day moving average of $17.37. 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 52-week low of $10.00 and a 52-week high of $18.98. The stock has a market cap of $779.07 million, a PE ratio of -1.07 and a beta of 2.14.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus decreased 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. Citizens Jmp raised shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Finally, Barclays reduced their price objective 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. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Bally’s currently has an average rating of “Hold” and a consensus price target 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.