Bally’s (NYSE:BALY) Price Target Lowered to $18.00 at Jefferies Financial Group

Bally’s (NYSE:BALY – Get Rating) had its price objective cut by Jefferies Financial Group from $22.00 to $18.00 in a report published on Tuesday, The Fly reports.

BALY has been the topic of a number of other reports. Wells Fargo & Company cut their price target on shares of Bally’s from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Wednesday, January 25th. Truist Financial decreased their price target on shares of Bally’s from $29.00 to $23.00 in a research note on Wednesday, May 10th. Stifel Nicolaus decreased their price target on shares of Bally’s from $22.00 to $21.00 in a research note on Monday, February 13th. Barclays dropped their price target on Bally’s from $23.00 to $21.00 in a research report on Wednesday, May 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Bally’s from $23.00 to $20.00 and set a hold rating on the stock in a research report on Tuesday, February 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bally’s has an average rating of Hold and a consensus price target of $25.63.

Bally’s Stock Down 8.8 %

Bally’s stock opened at $14.14 on Tuesday. Bally’s has a fifty-two week low of $14.11 and a fifty-two week high of $28.16. The stock has a market cap of $652.56 million, a PE ratio of -3.05 and a beta of 1.91. The firm’s 50-day simple moving average is $17.48 and its 200 day simple moving average is $19.77. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.90 and a current ratio of 0.92.

Bally’s (NYSE:BALY – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.64). The business had revenue of $576.69 million for the quarter, compared to analysts’ expectations of $575.82 million. Bally’s had a negative net margin of 10.80% and a negative return on equity of 4.13%. Research analysts predict that Bally’s will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Hedge funds have recently bought and sold shares of the company. Point72 Middle East FZE purchased a new stake in shares of Bally’s in the fourth quarter worth $28,000. UBS Group AG increased its position in shares of Bally’s by 179.6% in the third quarter. UBS Group AG now owns 1,644 shares of the company’s stock worth $33,000 after purchasing an additional 3,709 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Bally’s in the third quarter worth approximately $35,000. Counterpoint Mutual Funds LLC bought a new position in shares of Bally’s in the first quarter worth approximately $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bally’s by 33.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,062 shares of the company’s stock worth $117,000 after purchasing an additional 1,531 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Bally’s Company Profile

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Bally’s Corp. engages in the business of casino hotels and horse racetrack. Its properties include Twin River Casino, Hard Rock, Biloxi, Tiverton, Dover Downs, Arapahoe Park, Mardi Gras, Golden Gates, Golden Gulch, KC, Casino Vicksburg, Bally’s Atlantic City, and Eldorado Resort casino Shreveport. The company was founded on March 1, 2004 and is headquartered in Providence, RI.