Stifel Nicolaus Raises Bally’s (NYSE:BALY) Price Target to $14.00

Bally’s (NYSE:BALY) had its price objective hoisted by Stifel Nicolaus from $11.00 to $14.00 in a report released on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

BALY has been the subject of several other research reports. Wells Fargo & Company restated an underweight rating and set a $10.00 price objective on shares of Bally’s in a research report on Friday, January 5th. Macquarie cut shares of Bally’s from an outperform rating to a neutral rating and reduced their target price for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Finally, Truist Financial lifted their price target on shares of Bally’s from $14.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $15.71.

Bally’s Trading Up 0.2 %

Shares of NYSE:BALY opened at $13.02 on Thursday. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. Bally’s has a 12 month low of $7.28 and a 12 month high of $16.96. The stock’s 50 day moving average price is $13.00 and its 200 day moving average price is $11.93.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). The firm had revenue of $618.48 million during the quarter, compared to the consensus estimate of $625.94 million. Bally’s had a negative return on equity of 32.28% and a negative net margin of 21.26%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.74) EPS. As a group, equities research analysts anticipate that Bally’s will post -5.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Bally’s by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 130,802 shares of the company’s stock worth $1,715,000 after buying an additional 3,503 shares during the period. Strs Ohio boosted its position in Bally’s by 96.8% during the 3rd quarter. Strs Ohio now owns 24,600 shares of the company’s stock worth $322,000 after acquiring an additional 12,100 shares during the period. Los Angeles Capital Management LLC grew its stake in Bally’s by 10.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 41,072 shares of the company’s stock valued at $538,000 after acquiring an additional 3,894 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Bally’s in the 3rd quarter valued at about $389,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Bally’s by 35.6% in the 3rd quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after purchasing an additional 2,987 shares during the period. Institutional investors and hedge funds 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.