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

Shares of Bally’s Corporation (NYSE:BALY) have been assigned an average recommendation of “Reduce” from the five research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $16.50.

Several analysts recently issued reports on BALY shares. Barclays set a $11.00 price objective on shares of Bally’s and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a report on Tuesday, January 27th.

Hedge Funds Weigh In On Bally’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Bally’s in the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired 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 grew its holdings in shares of Bally’s by 96.1% in the fourth 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 period. Bank of America Corp DE grew its holdings in shares of 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 valued at $76,000 after purchasing an additional 7,579 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Bally’s during the second quarter worth about $97,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Trading Down 3.7%

Shares of BALY opened at $11.66 on Wednesday. Bally’s has a 52-week low of $8.45 and a 52-week high of $20.74. The stock has a market cap of $573.25 million, a PE ratio of -2.39 and a beta of 1.45. The firm’s fifty day moving average is $14.32 and its two-hundred day moving average is $14.95. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13.

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.