Bally’s Corporation (NYSE:BALY – Get Free Report) has received a consensus recommendation of “Reduce” from the five research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three 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 $12.50.
Several research firms have commented on BALY. Truist Financial cut their price target on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a report on Friday, March 27th. Wall Street Zen lowered Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a research note on Friday, April 24th. Barclays reaffirmed an “underweight” rating and issued a $8.00 target price on shares of Bally’s in a research report on Wednesday. Finally, Stifel Nicolaus decreased their price target on shares of Bally’s from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Monday, March 30th.
Check Out Our Latest Stock Analysis on BALY
Bally’s Price Performance
Bally’s (NYSE:BALY – Get Free Report) last posted its quarterly earnings results on Monday, May 18th. The company reported ($2.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.69). Bally’s had a negative return on equity of 56.76% and a negative net margin of 29.98%.The company had revenue of $755.72 million during the quarter, compared to analyst estimates of $769.69 million. Analysts anticipate that Bally’s will post -8.85 earnings per share for the current year.
Institutional Trading of Bally’s
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whitefort Capital Management LP raised its position in 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 purchasing an additional 578,129 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Bally’s by 21,781.4% in the 3rd 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 during the period. Geode Capital Management LLC grew its stake in shares of Bally’s by 13.9% in the 4th 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 during the period. State Street Corp raised its holdings in shares of Bally’s by 32.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bally’s by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock worth $1,015,000 after buying an additional 5,306 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.
Bally’s Company Profile
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.
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