Analysts Set Bally’s Corporation (NYSE:BALY) PT at $16.50

Shares of Bally’s Corporation (NYSE:BALY) have earned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.50.

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a report on Tuesday, January 27th. Barclays set a $11.00 target price on Bally’s and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Macquarie Infrastructure raised their price target on shares of Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Stifel Nicolaus upped their price target on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, November 11th.

Bally’s Price Performance

Shares of BALY stock opened at $13.58 on Friday. The firm has a fifty day simple moving average of $15.54 and a 200-day simple moving average of $14.59. The company has a market capitalization of $667.59 million, a PE ratio of -2.78 and a beta of 1.45. Bally’s has a twelve month low of $8.45 and a twelve month high of $20.74. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter. The firm had revenue of $210.25 million for the quarter. Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%. Equities research analysts anticipate that Bally’s will post -7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Large investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Bally’s by 9.9% in the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after purchasing an additional 916 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Bally’s by 96.1% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock worth $43,000 after buying an additional 1,271 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Bally’s in the 2nd quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bally’s in the 2nd quarter valued at approximately $38,000. Finally, Wolverine Asset Management LLC raised its position in shares of Bally’s by 35.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.

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.