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

Shares of Bally’s Co. (NYSE:BALY) have earned an average recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.14.

Several equities analysts recently weighed in on BALY shares. Stifel Nicolaus lifted their price target on Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research note on Thursday, August 1st. JMP Securities reiterated a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Barclays boosted their price target on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Truist Financial reissued a “hold” rating and set a $18.25 target price (up previously from $16.00) on shares of Bally’s in a report on Friday, July 26th. Finally, Jefferies Financial Group raised their price objective on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Bally’s Trading Up 0.2 %

NYSE BALY opened at $17.12 on Wednesday. The company has a fifty day moving average of $14.69 and a 200 day moving average of $13.29. The company has a market capitalization of $693.10 million, a PE ratio of -1.65 and a beta of 2.10. Bally’s has a 1 year low of $7.28 and a 1 year high of $17.44. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.23. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The business had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. During the same quarter in the prior year, the firm posted ($0.25) EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Bally’s will post -5.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BALY. Quest Partners LLC purchased a new position in shares of Bally’s during the 2nd quarter worth $131,000. Garde Capital Inc. raised its stake in shares of Bally’s by 50.0% in the 4th quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after acquiring an additional 5,000 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in shares of Bally’s in the 2nd quarter worth approximately $217,000. Price T Rowe Associates Inc. MD boosted its position in shares of Bally’s by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares during the period. Finally, PEAK6 Investments LLC increased its holdings in Bally’s by 20.2% in the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after purchasing an additional 4,446 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

About Bally’s

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.