Man Group plc Makes New $5.19 Million Investment in Bally’s Co. (NYSE:BALY)

Man Group plc acquired a new position in Bally’s Co. (NYSE:BALY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 289,914 shares of the company’s stock, valued at approximately $5,187,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in shares of 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 purchasing an additional 496,933 shares during the period. Nexpoint Asset Management L.P. lifted its stake in shares of Bally’s by 88.3% in the 4th 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 during the period. Eisler Capital Management Ltd. purchased a new position in shares of Bally’s in the 4th quarter valued at approximately $4,699,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Bally’s in the 4th quarter valued at approximately $2,005,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Bally’s in the 4th quarter valued at approximately $1,505,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BALY has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Citizens Jmp upgraded Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Finally, Barclays lowered their target price on Bally’s from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Bally’s has a consensus rating of “Hold” and an average target price of $16.96.

Bally’s Stock Down 0.6%

Shares of NYSE:BALY opened at $10.96 on Wednesday. The stock has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $16.16. The stock has a market capitalization of $537.18 million, a price-to-earnings ratio of -0.73 and a beta of 2.04. Bally’s Co. has a 12-month low of $10.00 and a 12-month high of $18.98. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $1.34. The business had revenue of $580.37 million during the quarter, compared to analysts’ expectations of $589.83 million. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. On average, research analysts anticipate that Bally’s Co. 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.