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

Bally’s Co. (NYSE:BALY) has earned a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.29.

A number of equities research analysts have issued reports on BALY shares. Wells Fargo & Company reissued an “underweight” rating and set a $10.00 target price on shares of Bally’s in a report on Friday, January 5th. Truist Financial increased their price objective on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Stifel Nicolaus reduced their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, Macquarie lowered shares of Bally’s from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th.

Bally’s Trading Down 1.6 %

Shares of BALY opened at $13.74 on Thursday. Bally’s has a fifty-two week low of $7.28 and a fifty-two week high of $17.83. The business has a 50-day moving average of $12.79 and a 200 day moving average of $11.86. The firm has a market cap of $550.64 million, a P/E ratio of -3.92 and a beta of 2.08. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65.

Bally’s (NYSE:BALY) last posted its earnings results on Wednesday, February 21st. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.31). The business had revenue of $611.67 million during the quarter, compared to analysts’ expectations of $626.62 million. Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. As a group, research analysts forecast that Bally’s will post -3.76 EPS for the current year.

Institutional Trading of Bally’s

Several institutional investors and hedge funds have recently modified their holdings of the business. HG Vora Capital Management LLC grew its holdings in shares of Bally’s by 11.1% during the third quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock worth $32,775,000 after purchasing an additional 250,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Bally’s by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after purchasing an additional 93,681 shares during the last quarter. TFG Asset Management GP Ltd grew its stake in Bally’s by 36.4% in the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock worth $20,910,000 after buying an additional 400,000 shares in the last quarter. Rathbones Group PLC purchased a new position in Bally’s in the 3rd quarter worth approximately $8,163,000. Finally, AQR Capital Management LLC increased its holdings in shares of Bally’s by 8.8% in the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock worth $4,385,000 after buying an additional 27,003 shares during the last quarter. Hedge funds and other 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.