Bally’s Corporation (NYSE:BALY) Receives $12.75 Consensus Target Price from Analysts

Bally’s Corporation (NYSE:BALY) has been assigned a consensus rating of “Reduce” from the five analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.75.

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Bally’s from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen cut Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings downgraded shares of Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th. Barclays cut their target price on Bally’s from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, May 20th. Finally, Truist Financial cut their price target on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a report on Friday, March 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Bally’s by 96.1% in the fourth 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 period. JPMorgan Chase & Co. acquired a new position in Bally’s in the second quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Bally’s during the 2nd quarter worth $38,000. MetLife Investment Management LLC bought a new position in Bally’s during the fourth quarter valued at about $97,000. Finally, Bank of America Corp DE boosted its stake in shares of Bally’s by 2,087.9% during the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after acquiring an additional 7,579 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Bally’s Trading Up 0.6%

NYSE BALY opened at $12.32 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.05 and a current ratio of 1.11. Bally’s has a one year low of $8.79 and a one year high of $20.74. The company has a 50-day simple moving average of $13.39 and a 200-day simple moving average of $13.73. The firm has a market capitalization of $602.97 million, a PE ratio of -1.51 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) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $755.72 million for the quarter, compared to analyst estimates of $769.69 million. On average, equities analysts forecast that Bally’s will post -9.36 earnings per share for the current year.

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.