Bally’s (NYSE:BALY – Get Free Report) had its price objective upped by equities research analysts at Truist Financial from $13.00 to $15.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 2.60% from the company’s current price.
Several other research analysts also recently commented on BALY. Weiss Ratings raised Bally’s from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Barclays cut their price objective on Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, May 20th. Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Stifel Nicolaus lifted their price target on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.25.
Check Out Our Latest Stock Analysis on BALY
Bally’s Stock Performance
Bally’s (NYSE:BALY – Get Free Report) last released its earnings results on Monday, May 18th. The company reported ($2.69) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.69). Bally’s had a negative net margin of 29.98% and a negative return on equity of 56.76%. The company had revenue of $755.72 million for the quarter, compared to analysts’ expectations of $769.69 million. Sell-side analysts forecast that Bally’s will post -9.36 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bally’s
Institutional investors have recently bought and sold shares of the stock. Whitefort Capital Management LP lifted its stake in Bally’s by 43.0% in the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after purchasing an additional 578,129 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $8,418,000 after purchasing an additional 754,945 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Bally’s by 13.9% during the fourth quarter. Geode Capital Management LLC now owns 186,194 shares of the company’s stock valued at $3,077,000 after purchasing an additional 22,784 shares in the last quarter. State Street Corp increased 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 purchasing an additional 28,741 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bally’s by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock worth $1,015,000 after purchasing an additional 5,306 shares during the last quarter. 70.41% of the stock is owned by hedge funds and other 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.
See Also
- Five stocks we like better than Bally’s
- 3 Medical Device Stocks Giving Investors a Different Healthcare Play
- Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack
- Bank Earnings Are Roaring, But Wall Street Isn’t Ready to Celebrate
- Buyback Boom: These 3 Companies Are Betting Billions on Their Own Stocks
Receive News & Ratings for Bally's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bally's and related companies with MarketBeat.com's FREE daily email newsletter.
