Bally’s (NYSE:BALY) Price Target Lowered to $12.00 at Stifel Nicolaus

Bally’s (NYSE:BALY) had its price target decreased by Stifel Nicolaus from $18.00 to $12.00 in a research report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages have also issued reports on BALY. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a report on Tuesday, January 27th. Truist Financial lowered their price objective on Bally’s from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Barclays set a $11.00 target price on Bally’s and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Bally’s currently has an average rating of “Reduce” and a consensus price target of $13.25.

Bally’s Stock Performance

BALY opened at $9.74 on Monday. The stock has a market cap of $472.59 million, a PE ratio of -2.00 and a beta of 1.45. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. Bally’s has a 1 year low of $8.45 and a 1 year high of $20.74. The stock’s 50 day simple moving average is $13.85 and its 200-day simple moving average is $14.98.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Whitefort Capital Management LP raised 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 valued at $31,741,000 after acquiring an additional 578,129 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Bally’s during the 4th quarter worth approximately $178,000. Barclays PLC increased its holdings in Bally’s by 43.1% during the 4th quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after purchasing an additional 4,540 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Bally’s by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock valued at $1,015,000 after purchasing an additional 5,306 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Bally’s by 96.1% in 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 purchasing an additional 1,271 shares during the last quarter. 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.