Brokerages Set Bally’s Co. (NYSE:BALY) PT at $16.96

Bally’s Co. (NYSE:BALY) has received a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.96.

BALY has been the subject of several research reports. Barclays dropped their target price on Bally’s from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 13th. Stifel Nicolaus dropped their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th.

Institutional Trading of Bally’s

A number of large investors have recently made changes to their positions in BALY. BNP Paribas Financial Markets acquired a new position in Bally’s during the 4th quarter worth approximately $58,000. Intech Investment Management LLC purchased a new stake in shares of Bally’s during the 4th quarter worth $196,000. Spirepoint Private Client LLC acquired a new position in shares of Bally’s during the first quarter worth $246,000. Two Sigma Advisers LP acquired a new position in shares of Bally’s during the fourth quarter worth $250,000. Finally, Wells Fargo & Company MN increased its holdings in Bally’s by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after buying an additional 860 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Stock Down 1.6%

Shares of NYSE BALY opened at $9.09 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The business’s 50 day moving average is $12.13 and its two-hundred day moving average is $15.09. Bally’s has a 52-week low of $8.70 and a 52-week high of $18.98. The firm has a market cap of $445.72 million, a price-to-earnings ratio of -0.60 and a beta of 1.86.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $1.34. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The firm had revenue of $580.37 million for the quarter, compared to the consensus estimate of $589.83 million. Research analysts predict that Bally’s will post -7.26 EPS for the current year.

Bally’s Company Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.