Bally’s (NYSE:BALY) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Bally’s (NYSE:BALY) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research firms also recently weighed in on BALY. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a research note on Tuesday, January 27th. Stifel Nicolaus lowered their price objective on shares of Bally’s from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, Truist Financial dropped their price objective on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Bally’s currently has a consensus rating of “Reduce” and a consensus price target of $13.25.

Bally’s Price Performance

Shares of BALY stock opened at $11.89 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. Bally’s has a twelve month low of $8.45 and a twelve month high of $20.74. The company has a market cap of $579.27 million, a P/E ratio of -2.18 and a beta of 1.55. The business has a fifty day simple moving average of $12.48 and a 200 day simple moving average of $14.95.

Bally’s (NYSE:BALY) last released its earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. The business had revenue of $746.25 million during the quarter. Bally’s had a negative net margin of 26.39% and a negative return on equity of 63.15%. On average, sell-side analysts forecast that Bally’s will post -7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Bally’s by 21,781.4% during the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after purchasing an additional 754,945 shares during the last quarter. Whitefort Capital Management LP increased its stake in shares of Bally’s by 43.0% in the fourth quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock valued at $31,741,000 after buying an additional 578,129 shares during the period. Geode Capital Management LLC raised its holdings in Bally’s by 113.1% in the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after buying an additional 87,346 shares during the last quarter. JB Capital Partners LP bought a new position in Bally’s in the 3rd quarter valued at approximately $555,000. Finally, State Street Corp boosted its position in Bally’s by 32.6% during the 4th quarter. State Street Corp now owns 116,903 shares of the company’s stock worth $1,931,000 after buying an additional 28,741 shares during the period. 70.41% of the stock is currently owned by institutional investors.

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.