Bally’s (NYSE:BALY) Earns “Sell (E+)” Rating from Weiss Ratings

Bally’s (NYSE:BALY)‘s stock had its “sell (e+)” rating reissued by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research firms have also weighed in on BALY. Macquarie reduced their price target on shares of Bally’s from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, August 12th. Truist Financial reduced their target price on shares of Bally’s from $15.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Barclays reduced their target price on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of Bally’s from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Bally’s from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $11.00.

Bally’s Price Performance

BALY opened at $13.67 on Wednesday. The firm has a market cap of $671.47 million, a P/E ratio of -1.17 and a beta of 1.96. The firm has a 50-day moving average of $10.40 and a 200 day moving average of $11.12. 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 fifty-two week low of $8.45 and a fifty-two week high of $23.20.

Hedge Funds Weigh In On Bally’s

A number of large investors have recently modified their holdings of BALY. Bank of America Corp DE boosted its position in shares of Bally’s by 17.2% in the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company’s stock valued at $553,000 after acquiring an additional 4,533 shares during the period. Spirepoint Private Client LLC purchased a new stake in Bally’s in the first quarter valued at approximately $246,000. Janney Montgomery Scott LLC purchased a new stake in Bally’s in the second quarter valued at approximately $867,000. Wolverine Asset Management LLC raised its stake in Bally’s by 35.8% in the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Bally’s by 113.1% in the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after purchasing an additional 87,346 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

About Bally’s

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.