Wall Street Zen Upgrades Bally’s (NYSE:BALY) to Hold

Bally’s (NYSE:BALY) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other brokerages have also commented on BALY. Macquarie decreased their price target on Bally’s from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 12th. Truist Financial decreased their price target on Bally’s from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, July 16th. Barclays decreased their price target on Bally’s from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on Bally’s from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, August 12th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.00.

Bally’s Stock Performance

BALY opened at $9.37 on Friday. The stock’s 50 day simple moving average is $9.92 and its 200-day simple moving average is $12.69. The company has a current ratio of 0.49, a quick ratio of 0.72 and a debt-to-equity ratio of 5.54. The stock has a market cap of $460.28 million, a PE ratio of -0.80 and a beta of 1.86. Bally’s has a 1 year low of $8.45 and a 1 year high of $23.20.

Hedge Funds Weigh In On Bally’s

A number of institutional investors and hedge funds have recently bought and sold shares of BALY. Bank of America Corp DE raised its position in shares of Bally’s by 2,087.9% during the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after acquiring an additional 7,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bally’s during the second quarter worth $38,000. New York State Common Retirement Fund bought a new stake in shares of Bally’s during the second quarter worth $97,000. Crossingbridge Advisors LLC bought a new stake in shares of Bally’s during the second quarter worth $240,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Bally’s during the second quarter worth $33,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Company Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.