Truist Financial Increases Bally’s (NYSE:BALY) Price Target to $15.00

Bally’s (NYSE:BALY) had its price objective boosted by analysts at Truist Financial from $13.00 to $15.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 4.40% from the stock’s current price.

A number of other analysts have also recently commented on BALY. Barclays lowered their price target on Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Stifel Nicolaus boosted their price objective on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Bally’s from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $13.25.

Bally’s Stock Down 1.3%

Shares of Bally’s stock opened at $14.37 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Bally’s has a 12 month low of $8.79 and a 12 month high of $20.74. The business has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $13.55. The stock has a market cap of $703.31 million, a PE ratio of -1.76 and a beta of 1.80.

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

Institutional Trading of Bally’s

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Bally’s by 21,781.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after buying an additional 754,945 shares during the period. Whitefort Capital Management LP boosted its holdings 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 buying an additional 578,129 shares during the period. Geode Capital Management LLC increased its position in shares of Bally’s by 13.9% during the fourth quarter. Geode Capital Management LLC now owns 186,194 shares of the company’s stock worth $3,077,000 after acquiring an additional 22,784 shares in the last quarter. State Street Corp increased its position 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 worth $1,931,000 after acquiring an additional 28,741 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bally’s by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock worth $1,015,000 after acquiring an additional 5,306 shares during the period. 70.41% of the stock is owned by institutional investors.

About Bally’s

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.