Lord Abbett & CO. LLC Purchases 900 Shares of Bally’s Co. (NYSE:BALY)

Lord Abbett & CO. LLC increased its stake in shares of Bally’s Co. (NYSE:BALY) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,070 shares of the company’s stock after acquiring an additional 900 shares during the period. Lord Abbett & CO. LLC’s holdings in Bally’s were worth $14,559,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Bally’s by 170.1% in the 2nd quarter. Principal Financial Group Inc. now owns 32,252 shares of the company’s stock valued at $1,746,000 after buying an additional 20,311 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Bally’s by 39.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 5,607 shares of the company’s stock worth $303,000 after purchasing an additional 1,577 shares during the last quarter. Sycale Advisors NY LLC acquired a new position in shares of Bally’s during the 2nd quarter worth about $14,996,000. Citigroup Inc. increased its stake in shares of Bally’s by 42.0% during the 2nd quarter. Citigroup Inc. now owns 2,742 shares of the company’s stock worth $148,000 after purchasing an additional 811 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Bally’s during the 2nd quarter worth about $447,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

Several analysts recently commented on BALY shares. Stifel Nicolaus lifted their target price on shares of Bally’s from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, June 28th. Wells Fargo & Company initiated coverage on shares of Bally’s in a report on Tuesday, September 14th. They issued an “equal weight” rating and a $54.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Bally’s from a “sell” rating to a “hold” rating in a research report on Tuesday, July 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bally’s has a consensus rating of “Buy” and an average target price of $68.67.

Shares of NYSE BALY opened at $47.25 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 4.62 and a current ratio of 4.67. Bally’s Co. has a 52-week low of $22.35 and a 52-week high of $75.92. The firm has a 50 day moving average price of $47.94 and a two-hundred day moving average price of $54.68. The stock has a market cap of $2.11 billion, a P/E ratio of 24.48 and a beta of 2.56.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Sunday, August 8th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). Bally’s had a net margin of 12.26% and a return on equity of 9.88%. The firm had revenue of $267.73 million during the quarter, compared to the consensus estimate of $242.22 million. The firm’s quarterly revenue was up 825.6% on a year-over-year basis. Analysts predict that Bally’s Co. will post 1.81 earnings per share for the current fiscal year.

Bally’s Profile

Bally’s Corp. engages in the business of casino hotels and horse racetrack. Its properties include Twin River Casino Hotel, Hard Rock Hotel and Casino Biloxi, Tiverton Casino Hotel, Dover Downs, Arapahoe Park, Mardi Gras Casino, Golden Gates Casino, Golden Gulch Casino, Casino KC, Casino Vicksburg, Bally’s Atlantic City, and Eldorado Resort casino Shreveport.

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Institutional Ownership by Quarter for Bally`s (NYSE:BALY)

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