Bally’s Co. (NYSE:BALY) Holdings Boosted by Empowered Funds LLC

Empowered Funds LLC grew its holdings in Bally’s Co. (NYSE:BALY) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,970 shares of the company’s stock after purchasing an additional 8,040 shares during the period. Empowered Funds LLC owned approximately 0.39% of Bally’s worth $2,742,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its position in Bally’s by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after purchasing an additional 1,064 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Bally’s by 0.8% in the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock worth $2,047,000 after acquiring an additional 1,376 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Bally’s by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after acquiring an additional 1,394 shares in the last quarter. PEAK6 Investments LLC boosted its position in Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after purchasing an additional 4,446 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Bally’s in the third quarter valued at about $153,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BALY. Barclays lifted their price target on Bally’s from $10.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $11.00 to $18.25 in a research note on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $18.25 price target (up previously from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Bally’s has a consensus rating of “Hold” and a consensus price target of $17.14.

Bally’s Price Performance

Shares of NYSE:BALY opened at $17.86 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The business has a 50 day moving average price of $17.46 and a 200 day moving average price of $15.31. The company has a market cap of $726.37 million, a price-to-earnings ratio of -1.19 and a beta of 2.07. Bally’s Co. has a twelve month low of $9.74 and a twelve month high of $18.00.

Bally’s 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.