Bally’s Corporation (NYSE:BALY) Given Average Rating of “Reduce” by Analysts

Shares of Bally’s Corporation (NYSE:BALY) have earned an average rating of “Reduce” from the six analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $16.50.

A number of research firms recently weighed in on BALY. Stifel Nicolaus increased their price objective on shares of Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Barclays set a $11.00 price target on shares of Bally’s and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Macquarie boosted their price objective on Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Truist Financial increased their price objective on Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, November 14th.

Bally’s Trading Down 1.6%

Shares of NYSE BALY opened at $16.24 on Friday. Bally’s has a 12-month low of $8.45 and a 12-month high of $22.41. The company has a market cap of $798.36 million, a price-to-earnings ratio of -3.33 and a beta of 1.45. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13. The stock’s 50 day simple moving average is $17.07 and its 200 day simple moving average is $13.23.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. The company had revenue of $210.25 million for the quarter. Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%. Equities research analysts expect that Bally’s will post -7.26 EPS for the current year.

Institutional Investors Weigh In On Bally’s

A number of hedge funds and other institutional investors have recently modified their holdings of BALY. JPMorgan Chase & Co. acquired a new position in Bally’s during the 2nd quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally’s in the second quarter valued at approximately $38,000. Bank of America Corp DE boosted its holdings in shares of Bally’s by 2,087.9% in the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock valued at $76,000 after acquiring an additional 7,579 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Bally’s during the second quarter worth approximately $97,000. Finally, Rhumbline Advisers lifted its position in Bally’s by 9.9% in the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after purchasing an additional 916 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Bally’s Company Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.