Bally’s Corporation (NYSE:BALY – Get Free Report) shares were up 8.9% on Monday . The stock traded as high as $9.99 and last traded at $9.9850. 25,811 shares changed hands during trading, a decline of 67% from the average session volume of 78,460 shares. The stock had previously closed at $9.17.
Analyst Upgrades and Downgrades
BALY has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Bally’s from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Stifel Nicolaus boosted their price target on Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Barclays lowered their price target on Bally’s from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, August 19th. Weiss Ratings cut Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 3rd. Finally, Truist Financial cut their price objective on Bally’s from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, August 19th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $11.75.
View Our Latest Report on BALY
Bally’s Stock Performance
Bally’s (NYSE:BALY – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($2.41) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($1.33). Bally’s had a negative net margin of 25.83% and a negative return on equity of 40.97%. The firm had revenue of $792.23 million for the quarter, compared to the consensus estimate of $789.89 million. On average, equities research analysts expect that Bally’s Corporation will post -9.36 earnings per share for the current fiscal year.
Institutional Trading of Bally’s
Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Bally’s by 113.1% during the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after purchasing an additional 87,346 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Bally’s during the second quarter valued at $33,000. New York State Common Retirement Fund bought a new stake in Bally’s in the 2nd quarter worth about $97,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Bally’s in the 2nd quarter worth about $38,000. Finally, Bank of America Corp DE raised its position in Bally’s by 2,087.9% in the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after buying an additional 7,579 shares during the last quarter. 70.41% of the stock is owned by institutional investors.
About Bally’s
Bally’s Corporation is a gaming and entertainment company that operates casinos, resorts and online gaming platforms. Its business includes casino gaming, hotel accommodations, food and beverage, entertainment, and related hospitality services. The company’s casino properties offer table games, slot machines, sports betting where permitted, and other amenities designed to attract regional and destination customers.
Bally’s operates primarily in the United States, with properties and gaming operations serving markets across several states.
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