Healthcare of Ontario Pension Plan Trust Fund Takes $7.33 Million Position in Bally’s Co. (NYSE:BALY)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Bally’s Co. (NYSE:BALY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 424,715 shares of the company’s stock, valued at approximately $7,326,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Bally’s by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock worth $23,912,000 after purchasing an additional 44,460 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Bally’s during the third quarter worth approximately $26,665,000. Alden Global Capital LLC lifted its holdings in Bally’s by 63.6% in the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock valued at $17,068,000 after buying an additional 554,263 shares during the period. Citigroup Inc. boosted its stake in Bally’s by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after acquiring an additional 35,901 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Bally’s by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 333,680 shares of the company’s stock worth $3,994,000 after acquiring an additional 28,590 shares during the period. Institutional investors own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their target price on shares of Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.14.

Bally’s Trading Down 0.1 %

Shares of Bally’s stock opened at $17.75 on Friday. Bally’s Co. has a 12-month low of $9.74 and a 12-month high of $18.00. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The business’s 50 day moving average is $17.54 and its 200-day moving average is $15.54. The stock has a market cap of $721.69 million, a P/E ratio of -1.18 and a beta of 2.07.

Bally’s 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.