Quest Partners LLC Has $337,000 Stake in Bally’s Co. (NYSE:BALY)

Quest Partners LLC increased its holdings in Bally’s Co. (NYSE:BALY) by 78.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,517 shares of the company’s stock after buying an additional 8,608 shares during the period. Quest Partners LLC’s holdings in Bally’s were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Bally’s by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock worth $1,217,000 after buying an additional 1,064 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Bally’s by 0.8% in the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $2,047,000 after buying an additional 1,376 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $281,000 after buying an additional 1,394 shares during the period. PEAK6 Investments LLC lifted its holdings in Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after buying an additional 4,446 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Bally’s by 5.3% during the third quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock valued at $2,742,000 after purchasing an additional 8,040 shares during the period. 70.41% of the stock is owned by institutional investors.

Bally’s Stock Performance

NYSE BALY opened at $17.77 on Tuesday. Bally’s Co. has a 1 year low of $9.74 and a 1 year high of $18.00. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The stock has a market capitalization of $722.71 million, a PE ratio of -1.18 and a beta of 2.07. The company’s 50 day simple moving average is $17.51 and its two-hundred day simple moving average is $15.44.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BALY. Stifel Nicolaus upped their price objective on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their price objective 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 research report on Thursday, August 1st. Finally, Wells Fargo & Company raised shares of Bally’s from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $11.00 to $18.25 in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.14.

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.