70,561 Shares in Bally’s Co. (NYSE:BALY) Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. acquired a new stake in Bally’s Co. (NYSE:BALY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,561 shares of the company’s stock, valued at approximately $1,262,000. K2 Principal Fund L.P. owned 0.17% of Bally’s at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Balyasny Asset Management L.P. grew its stake in Bally’s by 88.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after acquiring an additional 496,933 shares during the period. Nexpoint Asset Management L.P. lifted its holdings in Bally’s by 88.3% during the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after purchasing an additional 378,950 shares in the last quarter. Eisler Capital Management Ltd. acquired a new stake in shares of Bally’s in the fourth quarter valued at about $4,699,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bally’s during the fourth quarter worth about $2,005,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Bally’s during the 4th quarter worth about $1,505,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Bally’s Stock Performance

Shares of Bally’s stock opened at $11.24 on Friday. The business’s 50 day moving average price is $14.54 and its 200 day moving average price is $16.47. The company has a market cap of $545.25 million, a price-to-earnings ratio of -0.75 and a beta of 2.04. 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 one year low of $10.00 and a one year high of $18.98.

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

Analyst Upgrades and Downgrades

BALY has been the subject of several research reports. Citizens Jmp upgraded Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Barclays dropped their price target on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, 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. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.13.

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.