Bally’s Corporation (NYSE:BALY) Receives $16.50 Consensus PT from Analysts

Shares of Bally’s Corporation (NYSE:BALY) have received a consensus recommendation of “Reduce” from the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of analysts have commented on the stock. Macquarie increased their price objective on shares of Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Barclays set a $11.00 price target on Bally’s and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bally’s in a research report on Tuesday, January 27th. Stifel Nicolaus boosted their price objective on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Truist Financial upped their target price on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a report on Friday, November 14th.

Bally’s Trading Down 1.7%

Shares of BALY opened at $14.48 on Tuesday. Bally’s has a 52-week low of $8.45 and a 52-week high of $20.74. The stock has a market cap of $711.87 million, a PE ratio of -2.97 and a beta of 1.46. The firm’s fifty day moving average is $16.47 and its two-hundred day moving average is $13.99. 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 issued its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. The business had revenue of $210.25 million during the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. Research analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

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

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.