Bally’s Corporation (NYSE:BALY) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Bally’s Corporation (NYSE:BALY) have been assigned an average rating of “Reduce” from the six research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.50.

Several brokerages have recently commented on BALY. Stifel Nicolaus increased their price objective on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Barclays set a $11.00 price target on Bally’s and gave the company an “underweight” rating in a research report on Wednesday. Wall Street Zen raised Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Finally, Macquarie 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 note on Friday, November 14th.

Bally’s Stock Performance

Shares of Bally’s stock opened at $17.68 on Monday. The business has a 50-day simple moving average of $16.78 and a 200 day simple moving average of $12.50. The firm has a market capitalization of $869.00 million, a price-to-earnings ratio of -3.62 and a beta of 1.46. The company has a debt-to-equity ratio of 7.13, a current ratio of 0.68 and a quick ratio of 0.66. Bally’s has a one year low of $8.45 and a one year high of $22.41.

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

Institutional Trading of Bally’s

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in Bally’s during the second quarter worth about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Bally’s during the 2nd quarter valued at $38,000. Bank of America Corp DE boosted its position 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 valued at $76,000 after buying an additional 7,579 shares during the period. New York State Common Retirement Fund bought a new stake in Bally’s in the 2nd quarter worth $97,000. Finally, Rhumbline Advisers increased its position in shares of Bally’s by 9.9% in the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock valued at $113,000 after acquiring an additional 916 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.