Bally’s (NYSE:BALY) Reaches New 1-Year High at $17.73

Bally’s Co. (NYSE:BALY) shares reached a new 52-week high on Monday . The company traded as high as $17.73 and last traded at $17.45, with a volume of 252487 shares traded. The stock had previously closed at $17.31.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BALY shares. Jefferies Financial Group upped their target price on shares of Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Truist Financial restated a “hold” rating and issued a $18.25 target price (up previously from $16.00) on shares of Bally’s in a report on Friday, July 26th. JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Stifel Nicolaus upped their price objective on shares of Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays upped their price objective on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.14.

Bally’s Stock Performance

The company has a debt-to-equity ratio of 9.28, a quick ratio of 0.58 and a current ratio of 0.60. The firm’s 50 day moving average is $16.43 and its 200 day moving average is $13.99.

Bally’s (NYSE:BALY) last posted 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 net margin of 22.52% and a negative return on equity of 51.13%. 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 previous year, the firm posted ($0.25) earnings per share. Bally’s’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts anticipate that Bally’s Co. will post -5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Bally’s by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock worth $1,217,000 after buying an additional 1,064 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Bally’s by 0.8% in the second quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock worth $2,047,000 after buying an additional 1,376 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after buying an additional 1,394 shares in the last quarter. PEAK6 Investments LLC lifted its stake in shares of Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares in the last quarter. Finally, Garde Capital Inc. lifted its stake in shares of Bally’s by 50.0% in the fourth quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock worth $209,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.

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.