Analysts Set Bally’s Corporation (NYSE:BALY) PT at $11.00

Bally’s Corporation (NYSE:BALY) has earned an average recommendation of “Reduce” from the six brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.00.

Several research analysts recently commented on the company. Barclays dropped their price target on Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Truist Financial dropped their price target on Bally’s from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Wall Street Zen upgraded Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Macquarie dropped their price target on Bally’s from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bally’s in a research report on Saturday, September 27th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BALY. JPMorgan Chase & Co. purchased a new position in shares of Bally’s during the second quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bally’s during the second quarter valued at approximately $38,000. BNP Paribas Financial Markets purchased a new position in shares of Bally’s during the fourth quarter valued at approximately $58,000. Bank of America Corp DE boosted 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 valued at $76,000 after buying an additional 7,579 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Bally’s during the second quarter valued at approximately $97,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Trading Up 5.4%

Shares of BALY stock opened at $13.13 on Wednesday. The stock has a market capitalization of $644.95 million, a price-to-earnings ratio of -1.12 and a beta of 1.96. Bally’s has a 12-month low of $8.45 and a 12-month high of $23.20. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 5.54. The stock’s 50-day moving average price is $10.06 and its 200-day moving average price is $11.22.

About Bally’s

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.