Longfellow Investment Management Co. LLC Makes New $38,000 Investment in Bally’s Co. (NYSE:BALY)

Longfellow Investment Management Co. LLC acquired a new stake in shares of Bally’s Co. (NYSE:BALY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,207 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Bally’s by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock valued at $23,912,000 after acquiring an additional 44,460 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Bally’s by 32.9% during the first quarter. Gabelli Funds LLC now owns 169,624 shares of the company’s stock valued at $2,365,000 after purchasing an additional 42,000 shares in the last quarter. PEAK6 Investments LLC grew its stake in Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after purchasing an additional 4,446 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Bally’s by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,064 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BALY. Jefferies Financial Group upped their target price on shares of Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays upped their price objective on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $18.25 in a report on Monday, July 29th. Finally, Stifel Nicolaus upped their price target on Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.14.

Bally’s Stock Performance

Shares of NYSE BALY opened at $17.72 on Monday. The firm’s 50 day moving average price is $17.50 and its 200-day moving average price is $15.41. Bally’s Co. has a 52-week low of $9.74 and a 52-week high of $18.00. 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 Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.