Bally’s (NYSE:BALY) Stock Price Down 5.2% – Should You Sell?

Bally’s Corporation (NYSE:BALY) fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $16.71 and last traded at $16.78. 112,333 shares changed hands during trading, an increase of 18% from the average session volume of 94,852 shares. The stock had previously closed at $17.70.

Wall Street Analysts Forecast Growth

BALY has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Truist Financial raised their price target on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a report on Friday, November 14th. Macquarie lifted their price target on Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a report on Thursday, October 30th. Finally, Barclays reduced their target price on Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $16.50.

Bally’s Trading Up 1.5%

The firm has a market cap of $863.00 million, a price-to-earnings ratio of -3.60 and a beta of 1.46. The business has a fifty day moving average of $15.91 and a two-hundred day moving average of $12.04. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.66 and a current ratio of 0.68.

Bally’s (NYSE:BALY) last posted its earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. The firm had revenue of $210.25 million for the quarter. Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%. As a group, equities analysts expect that Bally’s Corporation will post -7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Bally’s by 21,781.4% during the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after acquiring an additional 754,945 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bally’s by 113.1% in the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock valued at $1,577,000 after purchasing an additional 87,346 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Bally’s during the 2nd quarter worth approximately $867,000. JB Capital Partners LP acquired a new position in shares of Bally’s during the 3rd quarter worth approximately $555,000. Finally, Crossingbridge Advisors LLC lifted its stake in Bally’s by 40.0% in the 3rd quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company’s stock valued at $388,000 after buying an additional 10,000 shares in the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.