Bally’s Corporation (NYSE:BALY) Receives $16.50 Average Price Target from Brokerages

Shares of Bally’s Corporation (NYSE:BALY) have been assigned a consensus recommendation of “Reduce” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $13.25.

Several brokerages recently issued reports on BALY. Truist Financial reduced their target price 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. Stifel Nicolaus lowered their price target on Bally’s from $18.00 to $12.00 and set a “hold” rating for the company in a report on Monday. Barclays set a $11.00 price target on Bally’s and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research report on Tuesday, January 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BALY. Whitefort Capital Management LP raised its stake in shares of Bally’s by 43.0% during the 4th 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 last quarter. JPMorgan Chase & Co. boosted its stake in shares of Bally’s by 21,781.4% in the third 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 last quarter. Geode Capital Management LLC grew its holdings in 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 during the period. State Street Corp grew its holdings in 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Bally’s by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock valued at $1,015,000 after acquiring an additional 5,306 shares in 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 $9.64 on Wednesday. The company has a 50 day moving average of $13.72 and a two-hundred day moving average of $14.98. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. Bally’s has a twelve month low of $8.45 and a twelve month high of $20.74. The company has a market cap of $467.68 million, a price-to-earnings ratio of -1.97 and a beta of 1.45.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%.The business had revenue of $746.25 million for the quarter. As a group, analysts predict that Bally’s will post -7.26 earnings per share for the current fiscal 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.