Bally’s (NYSE:BALY) Price Target Raised to $15.00

Bally’s (NYSE:BALY) had its price objective increased by Truist Financial from $13.00 to $15.00 in a research note released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Barclays reduced their price objective on shares of Bally’s from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 20th. Stifel Nicolaus lifted their target price on shares of Bally’s from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded Bally’s from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Bally’s has a consensus rating of “Reduce” and a consensus target price of $13.25.

Bally’s Stock Down 1.2%

Shares of NYSE BALY opened at $14.22 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 1.05. Bally’s has a 12-month low of $8.79 and a 12-month high of $20.74. The company has a market capitalization of $696.07 million, a PE ratio of -1.74 and a beta of 1.80. The firm’s 50-day moving average is $13.61 and its two-hundred day moving average is $13.53.

Bally’s (NYSE:BALY) last released its quarterly earnings results on Monday, May 18th. The company reported ($2.69) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.69). The company had revenue of $755.72 million for the quarter, compared to analysts’ expectations of $769.69 million. Bally’s had a negative return on equity of 56.76% and a negative net margin of 29.98%. Equities analysts anticipate that Bally’s will post -9.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in BALY. Whitefort Capital Management LP raised its holdings in shares of Bally’s by 43.0% in the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock worth $31,741,000 after purchasing an additional 578,129 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Bally’s in the fourth quarter valued at approximately $178,000. Barclays PLC lifted its position in Bally’s by 43.1% during the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after buying an additional 4,540 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bally’s by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock valued at $1,015,000 after buying an additional 5,306 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Bally’s by 96.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock worth $43,000 after buying an additional 1,271 shares during the period. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.