Bally’s (NYSE:BALY) Rating Increased to Hold at Citizens Jmp

Citizens Jmp upgraded shares of Bally’s (NYSE:BALY) to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Barclays dropped their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bally’s presently has a consensus rating of “Hold” and a consensus price target of $17.13.

Bally’s Trading Up 9.9 %

Shares of BALY stock opened at $17.87 on Tuesday. The firm has a 50 day moving average price of $16.96 and a two-hundred day moving average price of $17.36. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The company has a market capitalization of $864.67 million, a PE ratio of -1.19 and a beta of 2.14. Bally’s has a 12-month low of $10.00 and a 12-month high of $18.98.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. As a group, analysts predict that Bally’s will post -7.26 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

A number of hedge funds and other institutional investors have recently made changes to their positions in BALY. Balyasny Asset Management L.P. raised its position in Bally’s by 88.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after purchasing an additional 496,933 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Bally’s during the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. acquired a new position in Bally’s during the third quarter valued at approximately $6,784,000. Nexpoint Asset Management L.P. raised its position in Bally’s by 88.3% during the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after purchasing an additional 378,950 shares in the last quarter. Finally, Man Group plc acquired a new position in Bally’s during the fourth quarter valued at approximately $5,187,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.