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

Shares of Bally’s Corporation (NYSE:BALY) have earned an average recommendation of “Reduce” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.50.

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

Bally’s Price Performance

BALY stock opened at $15.25 on Tuesday. The stock has a 50-day moving average price of $16.61 and a two-hundred day moving average price of $13.94. Bally’s has a 1 year low of $8.45 and a 1 year high of $20.74. The stock has a market cap of $749.87 million, a PE ratio of -3.13 and a beta of 1.45. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. The firm 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%. Equities analysts forecast that Bally’s will post -7.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in shares of Bally’s during the 2nd quarter worth approximately $867,000. Wolverine Asset Management LLC increased its holdings in Bally’s by 35.8% during the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock worth $158,000 after buying an additional 4,345 shares during the last quarter. Geode Capital Management LLC raised its position in Bally’s by 113.1% during the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after acquiring an additional 87,346 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Bally’s in the second quarter valued at $33,000. Finally, Crossingbridge Advisors LLC acquired a new stake in Bally’s in the second quarter valued at $240,000. 70.41% of the stock is currently owned by institutional investors.

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.