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

Bally’s Corporation (NYSE:BALY) has earned a consensus rating of “Reduce” from the five analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.25.

A number of research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Tuesday, January 27th. Stifel Nicolaus dropped their price target on Bally’s from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Wall Street Zen downgraded Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Truist Financial dropped their price target on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, March 27th.

Bally’s Stock Up 0.1%

BALY stock opened at $11.93 on Friday. The company has a market cap of $581.52 million, a PE ratio of -2.19 and a beta of 1.55. The business has a 50-day simple moving average of $12.29 and a 200 day simple moving average of $14.92. Bally’s has a 52 week low of $8.45 and a 52 week high of $20.74. 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 (NYSE:BALY) last posted its quarterly earnings results on Saturday, January 31st. The company reported ($7.53) EPS for the quarter. The company 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%. Sell-side analysts anticipate that Bally’s will post -6.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BALY. JPMorgan Chase & Co. lifted its holdings in shares of Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after acquiring an additional 754,945 shares during the last quarter. Whitefort Capital Management LP lifted its holdings 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 worth $31,741,000 after acquiring an additional 578,129 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bally’s by 113.1% in the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after acquiring an additional 87,346 shares during the last quarter. JB Capital Partners LP bought a new position in shares of Bally’s in the third quarter worth about $555,000. Finally, State Street Corp lifted its holdings in shares of Bally’s by 32.6% in the fourth quarter. State Street Corp now owns 116,903 shares of the company’s stock worth $1,931,000 after acquiring an additional 28,741 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

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.