Bally’s Corporation (NYSE:BALY) Given Consensus Rating of “Hold” by Brokerages

Bally’s Corporation (NYSE:BALY) has earned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.00.

BALY has been the subject of several recent analyst reports. Wall Street Zen raised shares of Bally’s from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Macquarie cut their price target on shares of Bally’s from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, August 12th. Stifel Nicolaus cut their price target on shares of Bally’s from $12.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Barclays cut their price target on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, Truist Financial cut their price target on shares of Bally’s from $15.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, July 16th.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in 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 purchasing an additional 7,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bally’s during the 2nd quarter worth $38,000. New York State Common Retirement Fund acquired a new stake in Bally’s during the 2nd quarter worth $97,000. Crossingbridge Advisors LLC acquired a new stake in Bally’s during the 2nd quarter worth $240,000. Finally, JPMorgan Chase & Co. acquired a new stake in Bally’s during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Price Performance

Shares of NYSE BALY opened at $9.91 on Friday. The firm has a market cap of $486.81 million, a PE ratio of -0.85 and a beta of 1.86. The firm has a fifty day moving average of $9.83 and a 200 day moving average of $11.76. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.47 and a current ratio of 0.49. Bally’s has a one year low of $8.45 and a one year high of $23.20.

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.