Bally’s (NYSE:BALY) Trading Down 6.1% – Should You Sell?

Bally’s Corporation (NYSE:BALY) shares were down 6.1% during mid-day trading on Monday . The company traded as low as $16.28 and last traded at $16.1350. Approximately 16,327 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 95,196 shares. The stock had previously closed at $17.19.

Analyst Ratings Changes

A number of research firms have weighed in on BALY. Wall Street Zen raised shares of Bally’s from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a report on Thursday, October 30th. Barclays reduced 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 research report on Wednesday, August 13th. Stifel Nicolaus upped their price objective on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Finally, Macquarie lifted their target price on Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $16.50.

Bally’s Stock Up 1.4%

The firm has a market capitalization of $756.33 million, a PE ratio of -3.15 and a beta of 1.46. The business’s fifty day moving average price is $16.29 and its 200 day moving average price is $12.20. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 7.13.

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

Institutional Investors Weigh In On Bally’s

Several hedge funds have recently modified their holdings of BALY. JPMorgan Chase & Co. purchased a new position in Bally’s during the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Bally’s during the second quarter worth about $38,000. Bank of America Corp DE boosted its holdings in Bally’s by 2,087.9% in the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock valued at $76,000 after purchasing an additional 7,579 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Bally’s in the 2nd quarter valued at approximately $97,000. Finally, Rhumbline Advisers increased its position in Bally’s by 9.9% during the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after purchasing an additional 916 shares during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

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.