Analysts Set Bally’s Corporation (NYSE:BALY) Price Target at $16.50

Shares of Bally’s Corporation (NYSE:BALY) have been assigned an average rating of “Reduce” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.25.

Several equities research analysts have recently weighed in on BALY shares. Truist Financial decreased their price objective on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research report on Friday. Barclays set a $11.00 target price on shares of Bally’s and gave the company an “underweight” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research report on Tuesday, January 27th.

Bally’s Stock Performance

Shares of BALY stock opened at $10.51 on Wednesday. The stock has a market capitalization of $509.81 million, a PE ratio of -2.15 and a beta of 1.45. The business’s 50 day simple moving average is $13.99 and its 200 day simple moving average is $14.91. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.66. Bally’s has a one year low of $8.45 and a one year high of $20.74.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. The firm had revenue of $746.25 million for the quarter. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%. As a group, research analysts forecast that Bally’s will post -7.26 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently made changes to their positions in BALY. Rhumbline Advisers grew its stake in Bally’s by 9.9% during 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. Police & Firemen s Retirement System of New Jersey boosted 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 worth $43,000 after buying an additional 1,271 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Bally’s during the 2nd quarter worth approximately $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. Finally, Barclays PLC grew its position in shares of Bally’s by 43.1% during the 4th quarter. Barclays PLC now owns 15,077 shares of the company’s stock worth $249,000 after buying an additional 4,540 shares during the period. 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.