Bally’s Co. (NYSE:BALY) Given Consensus Rating of “Hold” by Brokerages

Shares of Bally’s Co. (NYSE:BALY) have earned a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.29.

A number of brokerages recently weighed in on BALY. Macquarie cut Bally’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. Stifel Nicolaus reduced their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 target price on shares of Bally’s in a research report on Friday, January 5th. Finally, Truist Financial upped their target price on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday.

Bally’s Trading Down 1.3 %

Shares of NYSE BALY opened at $13.99 on Thursday. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $560.86 million, a P/E ratio of -4.00 and a beta of 2.08. Bally’s has a 1-year low of $7.28 and a 1-year high of $17.97. The business has a fifty day moving average price of $12.62 and a 200 day moving average price of $11.78.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). The company had revenue of $611.67 million for the quarter, compared to analysts’ expectations of $626.62 million. Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. Equities research analysts expect that Bally’s will post -3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of Bally’s by 100.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock valued at $54,000 after purchasing an additional 1,926 shares during the period. Garde Capital Inc. increased its holdings in shares of Bally’s by 25.0% in the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock valued at $131,000 after purchasing an additional 2,000 shares during the period. New York State Common Retirement Fund grew its holdings in Bally’s by 35.6% during the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock worth $149,000 after acquiring an additional 2,987 shares during the period. Shell Asset Management Co. acquired a new stake in Bally’s during the third quarter worth about $206,000. Finally, Strs Ohio grew its holdings in Bally’s by 96.8% during the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock worth $322,000 after acquiring an additional 12,100 shares during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

About Bally’s

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.