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

Bally’s Corporation (NYSE:BALY) has been given an average recommendation of “Reduce” by the five ratings firms that are covering the company, Marketbeat.com 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 price objective among brokerages that have issued a report on the stock in the last year is $12.75.

Several analysts have recently weighed in on the company. Barclays reduced their target price on Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, May 20th. Stifel Nicolaus raised their price target on Bally’s from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. Truist Financial cut their price target on Bally’s from $18.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, March 27th. Weiss Ratings cut Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th.

Institutional Trading of Bally’s

Institutional investors and hedge funds have recently bought and sold shares of the business. Whitefort Capital Management LP boosted its stake in Bally’s by 43.0% during the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after purchasing an additional 578,129 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Bally’s during the 4th quarter worth $178,000. Barclays PLC increased its stake in Bally’s by 43.1% in the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after purchasing an additional 4,540 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Bally’s by 9.5% in the fourth 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 during the period. Finally, Police & Firemen s Retirement System of New Jersey raised 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 buying an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Price Performance

Shares of BALY opened at $14.74 on Friday. Bally’s has a 1-year low of $8.79 and a 1-year high of $20.74. The stock has a market cap of $721.66 million, a PE ratio of -1.81 and a beta of 1.80. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 1.05. The firm has a fifty day moving average price of $13.35 and a 200 day moving average price of $13.88.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Monday, May 18th. The company reported ($2.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.69). The company had revenue of $755.72 million during the quarter, compared to analyst estimates of $769.69 million. Bally’s had a negative net margin of 29.98% and a negative return on equity of 56.76%. As a group, sell-side analysts anticipate that Bally’s will post -9.36 EPS 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.