Bally’s Corporation (NYSE:BALY) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Bally’s Corporation (NYSE:BALY) have received an average rating of “Reduce” from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.50.

BALY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Truist Financial lifted their price target on shares of Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a report on Friday, November 14th. Macquarie upped their price objective on shares of Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Stifel Nicolaus raised their target price on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock valued at $8,418,000 after acquiring an additional 754,945 shares during the period. Geode Capital Management LLC grew its position in Bally’s by 113.1% in the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after purchasing an additional 87,346 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Bally’s in the 2nd quarter valued at $867,000. JB Capital Partners LP bought a new stake in Bally’s during the 3rd quarter valued at $555,000. Finally, Crossingbridge Advisors LLC raised its holdings in Bally’s by 40.0% during the third quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company’s stock worth $388,000 after buying an additional 10,000 shares during the last quarter. 70.41% of the stock is owned by institutional investors.

Bally’s Stock Up 0.4%

BALY stock opened at $16.09 on Monday. The company has a market cap of $790.74 million, a price-to-earnings ratio of -3.30 and a beta of 1.46. Bally’s has a twelve month low of $8.45 and a twelve month high of $22.41. The business has a 50 day moving average price of $16.42 and a two-hundred day moving average price of $12.29. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter. The business had revenue of $210.25 million for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. Analysts anticipate that Bally’s will post -7.26 EPS for the current fiscal year.

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.