Bally’s Corporation (NYSE:BALY) Receives Average Rating of “Reduce” from Brokerages

by · The Cerbat Gem

Shares of Bally’s Corporation (NYSE:BALY – Get Free Report) have received an average recommendation of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.50.

Several research firms have weighed in on BALY. Barclays dropped their target price on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a report on Thursday, October 30th. Wall Street Zen raised Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Macquarie raised their target price on Bally’s from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Finally, Stifel Nicolaus boosted their price target on Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th.

Get Our Latest Stock Report on BALY

Hedge Funds Weigh In On Bally’s

Several hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in Bally’s during the 2nd quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bally’s in the second quarter worth $38,000. Bank of America Corp DE raised its holdings in shares of Bally’s by 2,087.9% during the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after purchasing an additional 7,579 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Bally’s during the second quarter worth $97,000. Finally, Rhumbline Advisers lifted its position in Bally’s by 9.9% during the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock valued at $113,000 after purchasing an additional 916 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Trading Up 1.5%

Shares of NYSE:BALY opened at $16.96 on Thursday. The business’s 50-day moving average is $15.13 and its 200 day moving average is $11.78. The company has a debt-to-equity ratio of 7.13, a current ratio of 0.68 and a quick ratio of 0.66. Bally’s has a 1 year low of $8.45 and a 1 year high of $22.41. The firm has a market capitalization of $833.75 million, a P/E ratio of -3.48 and a beta of 2.00.

Bally’s (NYSE:BALY – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.99). Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%.The business had revenue of $210.25 million for the quarter, compared to analysts’ expectations of $668.49 million. On average, research analysts predict that Bally’s will post -7.26 earnings per share for the current fiscal year.

Bally’s Company Profile

(Get Free Report)

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.

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