Bally’s Co. (NYSE:BALY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bally’s Co. (NYSE:BALY) have earned an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $15.29.

BALY has been the subject of a number of research reports. Truist Financial increased their price target on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Macquarie cut Bally’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $12.00 in a research report on Wednesday, January 17th. 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, Stifel Nicolaus reduced their target price 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.

Bally’s Stock Up 0.2 %

BALY stock opened at $13.16 on Thursday. Bally’s has a 1-year low of $7.28 and a 1-year high of $17.83. The business has a fifty day moving average price of $12.84 and a 200-day moving average price of $11.89. 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 $527.58 million, a P/E ratio of -3.76 and a beta of 2.08.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $611.67 million for the quarter, compared to analysts’ expectations of $626.62 million. Equities analysts forecast that Bally’s will post -3.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Rathbones Group PLC acquired a new stake in Bally’s during the third quarter worth approximately $8,163,000. TFG Asset Management GP Ltd increased its stake in Bally’s by 36.4% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock worth $20,910,000 after buying an additional 400,000 shares during the period. HG Vora Capital Management LLC increased its stake in Bally’s by 11.1% during the 3rd quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock worth $32,775,000 after buying an additional 250,000 shares during the period. Napatree Capital LLC purchased a new stake in Bally’s during the 4th quarter worth $2,684,000. Finally, Vanguard Group Inc. raised its stake in shares of Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after purchasing an additional 93,681 shares in the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

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.