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

Shares of Bally’s Corporation (NYSE:BALY) have received a consensus rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.50.

Several brokerages recently weighed in on BALY. Truist Financial increased 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. Barclays set a $11.00 price objective on Bally’s and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Macquarie Infrastructure increased 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. Stifel Nicolaus lifted their target price on shares of Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bally’s in a report on Tuesday, January 27th.

Institutional Trading of Bally’s

A number of institutional investors have recently modified their holdings of BALY. JPMorgan Chase & Co. grew its stake in shares of Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after purchasing an additional 754,945 shares during the last quarter. Whitefort Capital Management LP lifted its holdings in Bally’s by 43.0% in the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after buying an additional 578,129 shares during the period. Geode Capital Management LLC grew its position in shares of Bally’s by 113.1% in the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after buying an additional 87,346 shares during the last quarter. JB Capital Partners LP bought a new stake in shares of Bally’s in the 3rd quarter worth approximately $555,000. Finally, State Street Corp increased its stake in shares of Bally’s by 32.6% during the fourth quarter. State Street Corp now owns 116,903 shares of the company’s stock valued at $1,931,000 after buying an additional 28,741 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Price Performance

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

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

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.