Analysts Set Bally’s Corporation (NYSE:BALY) Target Price at $11.50

Bally’s Corporation (NYSE:BALY) has earned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $11.00.

BALY has been the subject of several research analyst reports. Barclays cut their price target on Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday. Macquarie dropped their target price on Bally’s from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their price objective on Bally’s from $12.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday. Truist Financial dropped their price objective on Bally’s from $15.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered Bally’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th.

Bally’s Stock Down 5.2%

BALY stock opened at $9.42 on Tuesday. Bally’s has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The business’s 50-day moving average is $9.93 and its two-hundred day moving average is $12.79. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.72 and a current ratio of 0.49. The company has a market cap of $462.66 million, a price-to-earnings ratio of -0.80 and a beta of 1.86.

Institutional Trading of Bally’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bally’s during the 2nd quarter worth $38,000. New York State Common Retirement Fund acquired a new position in Bally’s in the second quarter valued at approximately $97,000. Crossingbridge Advisors LLC bought a new stake in shares of Bally’s during the second quarter valued at approximately $240,000. JPMorgan Chase & Co. bought a new stake in shares of Bally’s during the second quarter valued at approximately $33,000. Finally, Geode Capital Management LLC raised its holdings in Bally’s by 113.1% during the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after purchasing an additional 87,346 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.