Bally’s (NYSE:BALY) Trading Down 4.1%

Bally’s Co. (NYSE:BALY) was down 4.1% on Friday . The company traded as low as $13.41 and last traded at $13.42. Approximately 73,224 shares changed hands during trading, a decline of 85% from the average daily volume of 481,243 shares. The stock had previously closed at $14.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BALY shares. Stifel Nicolaus decreased their price objective on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. 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. Truist Financial upped their price objective on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company restated an “underweight” rating and set a $10.00 price objective on shares of Bally’s in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.29.

Bally’s Stock Performance

The company has a market capitalization of $559.66 million, a PE ratio of -3.99 and a beta of 2.08. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73. The business has a 50 day simple moving average of $12.74 and a 200 day simple moving average of $11.83.

Bally’s (NYSE:BALY) last announced its quarterly earnings data 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 return on equity of 17.92% and a negative net margin of 7.05%. The firm had revenue of $611.67 million during the quarter, compared to analysts’ expectations of $626.62 million. Equities research analysts predict that Bally’s Co. will post -3.76 EPS for the current fiscal year.

Institutional Trading of Bally’s

Several hedge funds and other institutional investors have recently bought and sold shares of BALY. Tower Research Capital LLC TRC grew its holdings in Bally’s by 100.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after acquiring an additional 1,926 shares during the period. Garde Capital Inc. grew its holdings in Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after acquiring 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.

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.