Hsbc Holdings PLC Purchases 5,147 Shares of Bally’s Co. (NYSE:BALY)

Hsbc Holdings PLC raised its position in shares of Bally’s Co. (NYSE:BALY) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363,344 shares of the company’s stock after purchasing an additional 5,147 shares during the period. Hsbc Holdings PLC’s holdings in Bally’s were worth $6,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC purchased a new position in shares of Bally’s in the 4th quarter valued at $196,000. Wells Fargo & Company MN increased its holdings in shares of Bally’s by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after acquiring an additional 860 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Bally’s in the 4th quarter valued at $401,000. Finally, Virtu Financial LLC acquired a new position in Bally’s during the 3rd quarter valued at about $482,000. 70.41% of the stock is owned by institutional investors.

Bally’s Price Performance

Shares of NYSE:BALY opened at $12.90 on Tuesday. Bally’s Co. has a twelve month low of $10.00 and a twelve month high of $18.98. The company’s 50 day moving average is $15.24 and its 200 day moving average is $16.80. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The company has a market cap of $625.78 million, a PE ratio of -0.86 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BALY. Stifel Nicolaus lowered their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Barclays cut their price objective on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.13.

Bally’s Company 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.