Bally’s (NYSE:BALY) Given New $15.00 Price Target at Truist Financial

Bally’s (NYSE:BALY) had its target price lifted by Truist Financial from $13.00 to $15.00 in a research report released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently commented on BALY. Wall Street Zen downgraded Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Stifel Nicolaus boosted their price objective on Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Barclays reduced their target price on shares of Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded shares of Bally’s from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.25.

Bally’s Price Performance

Shares of Bally’s stock opened at $14.60 on Monday. Bally’s has a one year low of $8.79 and a one year high of $20.74. The stock’s fifty day moving average is $13.52 and its 200 day moving average is $13.56. The stock has a market cap of $714.82 million, a P/E ratio of -1.79 and a beta of 1.80. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.05 and a current ratio of 1.11.

Bally’s (NYSE:BALY) last released its earnings results on Monday, May 18th. The company reported ($2.69) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.69). Bally’s had a negative net margin of 29.98% and a negative return on equity of 56.76%. The company had revenue of $755.72 million for the quarter, compared to analysts’ expectations of $769.69 million. Sell-side analysts anticipate that Bally’s will post -9.36 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whitefort Capital Management LP boosted its stake in shares of Bally’s by 43.0% in the fourth quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after acquiring an additional 578,129 shares during the period. JPMorgan Chase & Co. raised its stake in Bally’s by 21,781.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock valued at $8,418,000 after purchasing an additional 754,945 shares during the period. Geode Capital Management LLC raised its stake in Bally’s by 13.9% during the 4th quarter. Geode Capital Management LLC now owns 186,194 shares of the company’s stock valued at $3,077,000 after purchasing an additional 22,784 shares during the period. State Street Corp raised its stake in Bally’s by 32.6% during the 4th quarter. State Street Corp now owns 116,903 shares of the company’s stock valued at $1,931,000 after purchasing an additional 28,741 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Bally’s by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock worth $1,015,000 after purchasing an additional 5,306 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

About Bally’s

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.