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

Bally’s Corporation (NYSE:BALY) has been given an average rating of “Reduce” by the six analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.50.

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

Bally’s Stock Performance

Shares of BALY opened at $14.32 on Friday. Bally’s has a 52-week low of $8.45 and a 52-week high of $20.74. The stock’s 50-day simple moving average is $15.63 and its 200 day simple moving average is $14.50. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.66 and a current ratio of 0.68. The stock has a market capitalization of $703.97 million, a price-to-earnings ratio of -2.93 and a beta of 1.46.

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

Institutional Trading of Bally’s

Several institutional investors and hedge funds have recently made changes to their positions in BALY. JPMorgan Chase & Co. bought a new position in Bally’s in the second quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally’s during the 2nd quarter valued at about $38,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Bally’s by 96.1% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock valued at $43,000 after buying an additional 1,271 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 worth $76,000 after buying an additional 7,579 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in 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 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.