Yakira Capital Management Inc. Has $2.96 Million Stock Holdings in Bally’s Co. (NYSE:BALY)

Yakira Capital Management Inc. increased its position in Bally’s Co. (NYSE:BALY) by 40.9% during the fourth quarter, Holdings Channel reports. The firm owned 165,300 shares of the company’s stock after buying an additional 47,943 shares during the quarter. Yakira Capital Management Inc.’s holdings in Bally’s were worth $2,957,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BALY. King Street Capital Management L.P. bought a new stake in Bally’s in the third quarter valued at approximately $6,784,000. Alliancebernstein L.P. increased its holdings in shares of Bally’s by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 379,812 shares of the company’s stock worth $6,795,000 after acquiring an additional 22,573 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in Bally’s by 30.3% during the 4th quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock valued at $3,099,000 after purchasing an additional 40,250 shares during the last quarter. Vestcor Inc boosted its position in Bally’s by 0.6% during the fourth quarter. Vestcor Inc now owns 100,594 shares of the company’s stock worth $1,800,000 after purchasing an additional 594 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Bally’s by 58.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,000 shares of the company’s stock worth $1,700,000 after purchasing an additional 35,000 shares during the period. 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 research reports. Barclays cut their target price on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Stifel Nicolaus lowered their price target on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Finally, Citizens Jmp upgraded Bally’s to a “hold” rating in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.13.

Bally’s Price Performance

NYSE:BALY opened at $11.29 on Friday. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The firm has a market cap of $547.68 million, a price-to-earnings ratio of -0.75 and a beta of 2.02. Bally’s Co. has a 52 week low of $10.00 and a 52 week high of $18.98. The firm’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $17.10.

Bally’s (NYSE:BALY) last announced its 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. The company had revenue of $580.37 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Bally’s Co. will post -7.26 earnings per share for the current year.

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.