Bally’s (NYSE:BALY) PT Raised to $16.00

Bally’s (NYSE:BALY) had its price target upped by Truist Financial from $14.00 to $16.00 in a research report released on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company restated an underweight rating and issued a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Stifel Nicolaus dropped their price target on shares of Bally’s from $13.00 to $11.00 and set a hold rating for the company in a research note on Thursday, February 22nd. Finally, Macquarie lowered shares of Bally’s from an outperform rating to a neutral rating and lowered their target price for the company from $15.00 to $12.00 in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $15.29.

Bally’s Stock Performance

BALY opened at $14.18 on Tuesday. The firm’s 50 day moving average is $12.56 and its 200-day moving average is $11.77. Bally’s has a 52-week low of $7.28 and a 52-week high of $18.66. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). The company had revenue of $611.67 million during the quarter, compared to the consensus estimate of $626.62 million. Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. On average, equities research analysts predict that Bally’s will post -3.73 earnings per share for the current year.

Institutional Trading of Bally’s

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Bally’s by 100.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock valued at $54,000 after acquiring an additional 1,926 shares during the period. Garde Capital Inc. boosted its holdings in shares of Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock valued at $131,000 after acquiring an additional 2,000 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Bally’s by 35.6% during the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after acquiring an additional 2,987 shares during the period. Shell Asset Management Co. acquired a new position in shares of Bally’s during the third quarter valued at $206,000. Finally, Counterpoint Mutual Funds LLC boosted its holdings in shares of Bally’s by 95.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 16,672 shares of the company’s stock valued at $219,000 after acquiring an additional 8,123 shares during the period. Institutional investors own 70.41% of the company’s stock.

About Bally’s

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.