Bally’s Co. (NYSE:BALY) Receives Average Rating of “Hold” from Brokerages

Shares of Bally’s Co. (NYSE:BALY) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.29.

A number of brokerages have issued reports on BALY. Macquarie downgraded Bally’s from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Truist Financial lifted their price target on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 target price on shares of Bally’s in a report on Friday, January 5th. Finally, Stifel Nicolaus reduced their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, February 22nd.

Bally’s Stock Down 1.3 %

Shares of NYSE BALY opened at $13.99 on Thursday. The company has a market capitalization of $560.86 million, a price-to-earnings ratio of -4.00 and a beta of 2.08. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The business has a 50-day moving average of $12.62 and a two-hundred day moving average of $11.78. Bally’s has a 1 year low of $7.28 and a 1 year high of $17.97.

Bally’s (NYSE:BALY) last announced 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 business had revenue of $611.67 million for the quarter, compared to analysts’ expectations 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, analysts forecast that Bally’s will post -3.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after acquiring an additional 93,681 shares during the period. Trexquant Investment LP acquired a new position in Bally’s in the 3rd quarter valued at about $358,000. Rathbones Group PLC acquired a new position in Bally’s in the 3rd quarter valued at about $8,163,000. AQR Capital Management LLC increased its position in Bally’s by 8.8% in the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock valued at $4,385,000 after acquiring an additional 27,003 shares during the period. Finally, Strs Ohio increased its position in Bally’s by 96.8% in the 3rd quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after acquiring an additional 12,100 shares during the period. Institutional investors and hedge funds 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.