Brokerages Set Bally’s Corporation (NYSE:BALY) Target Price at $16.50

Shares of Bally’s Corporation (NYSE:BALY) have earned a consensus recommendation of “Reduce” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.50.

Several equities research analysts have weighed in on BALY shares. Wall Street Zen raised Bally’s from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Barclays set a $11.00 price objective on shares of Bally’s and gave the company an “underweight” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Macquarie upped their price target on shares of Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, Truist Financial raised their price target on shares of Bally’s from $13.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, November 14th.

Institutional Trading of Bally’s

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Bally’s in the second quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Bally’s during the second quarter valued at $38,000. Bank of America Corp DE boosted its holdings in Bally’s by 2,087.9% in the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock valued at $76,000 after purchasing an additional 7,579 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Bally’s during the 2nd quarter valued at about $97,000. Finally, Rhumbline Advisers grew its holdings in Bally’s by 9.9% during the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after acquiring an additional 916 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Price Performance

NYSE BALY opened at $16.45 on Monday. The firm’s fifty day simple moving average is $16.60 and its two-hundred day simple moving average is $12.41. The firm has a market capitalization of $808.68 million, a P/E ratio of -3.37 and a beta of 1.46. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13. Bally’s has a 12-month low of $8.45 and a 12-month high of $22.41.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter. Bally’s had a negative return on equity of 63.71% and a negative net margin of 17.41%.The business had revenue of $210.25 million during the quarter. Analysts forecast that Bally’s will post -7.26 EPS for the current fiscal year.

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.