Bally’s (NYSE:BALY) Given New $14.00 Price Target at Stifel Nicolaus

Bally’s (NYSE:BALY) had its price objective upped by Stifel Nicolaus from $11.00 to $14.00 in a research note published on Thursday, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on the stock. Macquarie lowered shares of Bally’s from an outperform rating to a neutral rating and decreased their target price for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Wells Fargo & Company reaffirmed an underweight rating and issued a $10.00 price target on shares of Bally’s in a report on Friday, January 5th. Finally, Truist Financial lifted their price objective on Bally’s from $14.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Bally’s presently has an average rating of Hold and an average price target of $15.71.

Bally’s Price Performance

Bally’s stock opened at $13.02 on Thursday. The firm has a market capitalization of $521.96 million, a P/E ratio of -1.26 and a beta of 2.06. Bally’s has a one year low of $7.28 and a one year high of $16.96. 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 fifty day moving average price of $13.00 and a 200-day moving average price of $11.96.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing the consensus estimate of ($1.13) by ($2.48). Bally’s had a negative return on equity of 32.28% and a negative net margin of 21.26%. The company had revenue of $618.48 million during the quarter, compared to the consensus estimate of $625.94 million. During the same quarter in the prior year, the business earned ($0.74) EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Bally’s will post -5.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HG Vora Capital Management LLC raised its position in Bally’s by 11.1% during the third quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock valued at $32,775,000 after purchasing an additional 250,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after purchasing an additional 93,681 shares in the last quarter. TFG Asset Management GP Ltd increased its position in shares of Bally’s by 36.4% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock valued at $20,910,000 after purchasing an additional 400,000 shares during the last quarter. Rathbones Group PLC purchased a new position in shares of Bally’s during the 3rd quarter valued at about $8,163,000. Finally, AQR Capital Management LLC lifted 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 worth $4,385,000 after buying an additional 27,003 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Company Profile

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.