Bally’s Corporation (NYSE:BALY) Receives $16.50 Consensus PT from Analysts

Shares of Bally’s Corporation (NYSE:BALY) have been assigned a consensus rating of “Reduce” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.50.

Several equities research analysts have weighed in on BALY shares. Stifel Nicolaus raised their price objective on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th. Macquarie raised their price target on shares of Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Truist Financial boosted their price objective on shares of Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, November 14th. Finally, Barclays set a $11.00 price objective on Bally’s and gave the stock an “underweight” rating in a report on Wednesday, December 17th.

Hedge Funds Weigh In On Bally’s

Several large investors have recently made changes to their positions in BALY. JPMorgan Chase & Co. increased its position in Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after purchasing an additional 754,945 shares during the period. Janney Montgomery Scott LLC acquired a new position in Bally’s during the 2nd quarter valued at about $867,000. Geode Capital Management LLC boosted its stake in shares of Bally’s by 113.1% in the 2nd 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 during the last quarter. JB Capital Partners LP acquired a new stake in shares of Bally’s during the 3rd quarter worth approximately $555,000. Finally, Crossingbridge Advisors LLC acquired a new stake in shares of Bally’s during the 2nd quarter worth approximately $240,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Price Performance

Bally’s stock opened at $16.07 on Friday. The business’s fifty day moving average is $17.03 and its two-hundred day moving average is $13.31. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a market cap of $790.15 million, a P/E ratio of -3.29 and a beta of 1.45. Bally’s has a 52 week low of $8.45 and a 52 week high of $22.41.

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

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.