Bally’s (NYSE:BALY) PT Raised to $16.00 at Truist Financial

Bally’s (NYSE:BALY) had its price objective raised by stock analysts at Truist Financial from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 14.37% from the stock’s previous close.

Several other analysts also recently weighed in on BALY. Stifel Nicolaus decreased their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company restated an “underweight” rating and issued a $10.00 target price on shares of Bally’s in a research note on Friday, January 5th. Finally, Macquarie downgraded shares of Bally’s from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.00 in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bally’s has an average rating of “Hold” and an average price target of $15.29.

Bally’s Price Performance

Bally’s stock opened at $13.99 on Tuesday. Bally’s has a 12-month low of $7.28 and a 12-month high of $17.97. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73. The firm has a 50-day moving average price of $12.62 and a 200-day moving average price of $11.78. The firm has a market capitalization of $560.86 million, a PE ratio of -4.00 and a beta of 2.08.

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

Institutional Investors Weigh In On Bally’s

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Bally’s by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after buying an additional 93,681 shares during the period. Trexquant Investment LP bought a new stake in Bally’s during the third quarter valued at about $358,000. Rathbones Group PLC purchased a new position in Bally’s in the third quarter valued at about $8,163,000. AQR Capital Management LLC raised its holdings in Bally’s by 8.8% in the third quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock worth $4,385,000 after purchasing an additional 27,003 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Bally’s by 96.8% during the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after buying an additional 12,100 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

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.