Bally’s Co. (NYSE:BALY) Given Consensus Rating of “Hold” by Brokerages

Bally’s Co. (NYSE:BALY) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $17.13.

BALY has been the subject of a number of recent analyst reports. Barclays cut their price objective on 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. Stifel Nicolaus cut their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Citizens Jmp upgraded shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th.

Bally’s Trading Down 6.0 %

NYSE BALY opened at $11.88 on Monday. Bally’s has a 52 week low of $10.00 and a 52 week high of $18.98. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The stock’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $17.28. The stock has a market capitalization of $576.20 million, a price-to-earnings ratio of -0.79 and a beta of 2.14.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Bally’s by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after acquiring an additional 624 shares during the period. JPMorgan Chase & Co. grew its position in shares of Bally’s by 120.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company’s stock worth $707,000 after purchasing an additional 22,425 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Bally’s during the fourth quarter worth approximately $401,000. Wolverine Asset Management LLC raised its position in shares of Bally’s by 30.3% in the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock valued at $3,099,000 after buying an additional 40,250 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Bally’s by 63.7% in the third quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after buying an additional 14,567 shares during the period. Institutional investors 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.