Bally’s (NYSE:BALY) Price Target Lowered to $13.00 at Barclays

Bally’s (NYSE:BALY) had its price objective decreased by Barclays from $14.00 to $13.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

BALY has been the topic of several other reports. Citizens Jmp upgraded Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Stifel Nicolaus reduced their price objective on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.96.

Bally’s Stock Down 3.6%

BALY stock opened at $10.81 on Tuesday. Bally’s has a twelve month low of $10.00 and a twelve 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. The company has a market capitalization of $524.39 million, a P/E ratio of -0.72 and a beta of 2.04. The firm has a 50 day simple moving average of $14.46 and a 200-day simple moving average of $16.38.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $1.34. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. The business had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. On average, equities research analysts predict that Bally’s will post -7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Several large investors have recently added to or reduced their stakes in BALY. BNP Paribas Financial Markets bought a new position in shares of Bally’s during the fourth quarter worth about $58,000. SG Americas Securities LLC increased its holdings in shares of Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Bally’s in the 4th quarter worth about $196,000. Two Sigma Advisers LP acquired a new stake in shares of Bally’s in the 4th quarter worth about $250,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Bally’s by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after acquiring an additional 860 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Bally’s Company Profile

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.