Bally’s Corporation (NYSE:BALY) Receives Average Rating of “Reduce” from Analysts

Bally’s Corporation (NYSE:BALY) has been assigned an average rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.50.

BALY has been the subject of a number of research reports. Barclays set a $11.00 target price on shares of Bally’s and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a report on Tuesday, January 27th. Macquarie increased their target price on Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Stifel Nicolaus lifted their price target on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, Truist Financial boosted their price target on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, November 14th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its position in Bally’s by 9.9% during the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after buying an additional 916 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Bally’s during the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally’s in the second quarter worth $38,000. Wolverine Asset Management LLC raised its stake in Bally’s by 35.8% in the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Bally’s by 2,087.9% during the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after purchasing an additional 7,579 shares during the period. 70.41% of the stock is owned by institutional investors.

Bally’s Price Performance

Shares of NYSE BALY opened at $15.25 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13. The business’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $13.94. The company has a market cap of $749.87 million, a PE ratio of -3.13 and a beta of 1.45. Bally’s has a twelve month low of $8.45 and a twelve month high of $20.74.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. The business had revenue of $210.25 million during the quarter. On average, analysts predict that Bally’s will post -7.26 EPS for the current year.

About Bally’s

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.