Aigen Investment Management LP Sells 3,797 Shares of Bally’s Co. (NYSE:BALY)

Aigen Investment Management LP lowered its stake in Bally’s Co. (NYSE:BALY) by 32.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,875 shares of the company’s stock after selling 3,797 shares during the quarter. Aigen Investment Management LP’s holdings in Bally’s were worth $512,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in shares of Bally’s in the fourth quarter worth about $27,000. US Bancorp DE increased its stake in shares of Bally’s by 194.2% in the first quarter. US Bancorp DE now owns 562 shares of the company’s stock valued at $37,000 after buying an additional 371 shares during the period. Strs Ohio acquired a new position in shares of Bally’s in the first quarter valued at approximately $71,000. ProShare Advisors LLC acquired a new position in shares of Bally’s in the fourth quarter valued at approximately $200,000. Finally, Citigroup Inc. acquired a new position in shares of Bally’s in the fourth quarter valued at approximately $204,000. 68.61% of the stock is owned by hedge funds and other institutional investors.

Shares of BALY opened at $52.48 on Friday. Bally’s Co. has a 12-month low of $19.50 and a 12-month high of $75.92. The stock has a fifty day moving average price of $57.32. The company has a current ratio of 2.00, a quick ratio of 1.94 and a debt-to-equity ratio of 2.48. The company has a market cap of $2.23 billion, a PE ratio of -218.66 and a beta of 2.58.

Bally’s (NYSE:BALY) last issued its earnings results on Sunday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). Bally’s had a positive return on equity of 3.32% and a negative net margin of 1.60%. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $156.56 million. The company’s quarterly revenue was up 76.3% on a year-over-year basis. Analysts anticipate that Bally’s Co. will post 1.96 earnings per share for the current fiscal year.

In other Bally’s news, CFO Stephen H. Capp sold 56,172 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $69.97, for a total transaction of $3,930,354.84. Following the transaction, the chief financial officer now directly owns 254,510 shares in the company, valued at approximately $17,808,064.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder General L.P. Standard sold 909,090 shares of the firm’s stock in a transaction on Friday, April 16th. The shares were sold at an average price of $55.00, for a total value of $49,999,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 975,563 shares of company stock worth $54,696,925. 39.40% of the stock is owned by company insiders.

BALY has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Bally’s in a research note on Wednesday, April 21st. They issued a “buy” rating and a $66.00 price objective for the company. Truist raised their price objective on shares of Bally’s from $65.00 to $80.00 in a research report on Wednesday, February 24th. Zacks Investment Research raised shares of Bally’s from a “sell” rating to a “hold” rating in a research report on Thursday, February 11th. TheStreet downgraded shares of Bally’s from a “c” rating to a “d+” rating in a research report on Thursday, March 4th. Finally, Stifel Nicolaus raised their price objective on shares of Bally’s from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, March 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $70.40.

Bally’s Profile

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

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

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