Brokerages Set Bally’s Co. (NYSE:BALY) Price Target at $17.14

Shares of Bally’s Co. (NYSE:BALY) have earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $17.14.

BALY has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised shares of Bally’s from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $11.00 to $18.25 in a research note on Monday, July 29th. JMP Securities restated a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Barclays increased their price target on Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price objective on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Bally’s Stock Down 0.2 %

NYSE:BALY opened at $17.23 on Friday. 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 has a one year low of $7.28 and a one year high of $17.73. The company has a market cap of $697.56 million, a PE ratio of -1.66 and a beta of 2.09. The firm’s 50 day simple moving average is $16.95 and its 200 day simple moving average is $14.28.

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

Hedge Funds Weigh In On Bally’s

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Bally’s by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock valued at $23,912,000 after acquiring an additional 44,460 shares during the period. TFG Asset Management GP Ltd increased its stake in Bally’s by 36.4% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock valued at $20,910,000 after purchasing an additional 400,000 shares in the last quarter. Alden Global Capital LLC raised its holdings in Bally’s by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock worth $17,068,000 after buying an additional 554,263 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bally’s by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 333,680 shares of the company’s stock valued at $3,994,000 after buying an additional 28,590 shares in the last quarter. Finally, Napatree Capital LLC acquired a new position in shares of Bally’s during the fourth quarter valued at about $2,684,000. 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.