Brokerages Set Bally’s Corporation (NYSE:BALY) Target Price at $13.25

by · The Cerbat Gem

Shares of Bally’s Corporation (NYSE:BALY – Get Free Report) have been assigned a consensus rating of “Reduce” from the five analysts that are covering the company, MarketBeat.com reports. Two 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 brokerages that have issued a report on the stock in the last year is $13.25.

Several research firms have recently commented on BALY. Truist Financial reduced their target price on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a research note on Friday, April 24th. Stifel Nicolaus reduced their price objective on Bally’s from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Wall Street Zen lowered Bally’s from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th.

Get Our Latest Analysis on BALY

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BALY. JPMorgan Chase & Co. grew its holdings in Bally’s by 21,781.4% during the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after acquiring an additional 754,945 shares during the period. Whitefort Capital Management LP boosted its position in Bally’s by 43.0% during the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after acquiring an additional 578,129 shares during the period. Geode Capital Management LLC boosted its position in Bally’s by 113.1% during the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after acquiring an additional 87,346 shares during the period. JB Capital Partners LP acquired a new stake in Bally’s during the 3rd quarter worth about $555,000. Finally, State Street Corp boosted its position in Bally’s by 32.6% during the 4th quarter. State Street Corp now owns 116,903 shares of the company’s stock worth $1,931,000 after acquiring an additional 28,741 shares during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

Bally’s Stock Up 1.7%

BALY opened at $11.84 on Thursday. The firm has a 50 day moving average price of $11.85 and a 200 day moving average price of $14.67. The company has a market cap of $577.08 million, a PE ratio of -2.17 and a beta of 1.80. Bally’s has a 1 year low of $8.45 and a 1 year high of $20.74. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.77 and a current ratio of 0.80.

Bally’s (NYSE:BALY – Get Free Report) last posted its earnings results on Monday, May 18th. The company reported ($2.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.69). The business had revenue of $755.72 million for the quarter, compared to analyst estimates of $769.69 million. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%. Sell-side analysts expect that Bally’s will post -8.85 earnings per share for the current year.

Bally’s Company Profile

(Get Free Report)

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.

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