Bally’s Corporation (NYSE:BALY) Receives $13.25 Average PT from Brokerages

Bally’s Corporation (NYSE:BALY) has been given an average recommendation of “Reduce” by the five analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.25.

Several research analysts recently issued reports on BALY shares. Barclays cut their target price on shares of Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, May 20th. Weiss Ratings lowered Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Wall Street Zen cut Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Truist Financial upped their price objective on Bally’s from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Finally, Stifel Nicolaus raised their price objective on Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th.

Bally’s Price Performance

BALY stock opened at $13.96 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 1.05. Bally’s has a one year low of $8.79 and a one year high of $20.74. The stock has a market cap of $683.39 million, a PE ratio of -1.71 and a beta of 1.80. The firm has a 50 day simple moving average of $13.95 and a two-hundred day simple moving average of $13.44.

Bally’s (NYSE:BALY) last issued its quarterly earnings results 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 return on equity of 56.76% and a negative net margin of 29.98%.The company had revenue of $755.72 million during the quarter, compared to the consensus estimate of $769.69 million. On average, analysts predict that Bally’s will post -9.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Bally’s by 21,781.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after acquiring an additional 754,945 shares during the last quarter. Whitefort Capital Management LP increased its position 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 acquiring an additional 578,129 shares during the period. Geode Capital Management LLC raised its stake in shares of Bally’s by 113.1% during the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after acquiring an additional 87,346 shares during the last quarter. State Street Corp raised 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 acquiring an additional 28,741 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Bally’s during the fourth quarter worth about $178,000. 70.41% of the stock is currently 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.