Fortress Investment Group LLC Sells 856,573 Shares of Bally’s Corporation $BALY

Fortress Investment Group LLC lessened its holdings in shares of Bally’s Corporation (NYSE:BALY) by 47.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 931,221 shares of the company’s stock after selling 856,573 shares during the period. Bally’s accounts for 1.3% of Fortress Investment Group LLC’s holdings, making the stock its 19th biggest holding. Fortress Investment Group LLC owned about 1.90% of Bally’s worth $8,921,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of Bally’s in the 2nd quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Bally’s in the second quarter valued at approximately $38,000. Bank of America Corp DE raised its holdings in Bally’s by 2,087.9% during the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after purchasing an additional 7,579 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Bally’s in the 2nd quarter worth approximately $97,000. Finally, Wolverine Asset Management LLC boosted its stake in shares of Bally’s by 35.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after purchasing an additional 4,345 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BALY has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, November 14th. Wall Street Zen raised Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Macquarie upped their target price on Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Stifel Nicolaus raised their target price on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bally’s presently has a consensus rating of “Reduce” and an average price target of $16.50.

Bally’s Trading Up 0.4%

Shares of Bally’s stock opened at $16.09 on Friday. The stock has a market capitalization of $790.77 million, a PE ratio of -3.30 and a beta of 1.46. Bally’s Corporation has a 52 week low of $8.45 and a 52 week high of $22.41. The stock has a 50 day moving average price of $16.42 and a two-hundred day moving average price of $12.27. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.66 and a current ratio of 0.68.

Bally’s (NYSE:BALY) last issued its earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter. Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%.The firm had revenue of $210.25 million for the quarter. As a group, equities analysts anticipate that Bally’s Corporation will post -7.26 earnings per share for the current fiscal 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.