Brokerages Set Bally’s Co. (NYSE:BALY) Price Target at $15.33

Shares of Bally’s Co. (NYSE:BALY) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.50.

BALY has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Bally’s from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on Bally’s from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Monday. JMP Securities restated a “market perform” rating on shares of Bally’s in a report on Monday. Finally, Truist Financial upped their target price on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

Bally’s Price Performance

Bally’s stock opened at $13.57 on Tuesday. The firm has a market capitalization of $549.38 million, a PE ratio of -1.31 and a beta of 2.11. Bally’s has a 52 week low of $7.28 and a 52 week high of $16.96. The firm’s 50-day simple moving average is $12.18 and its 200 day simple moving average is $12.23. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 8.14.

Bally’s (NYSE:BALY) last announced its earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). The company had revenue of $618.48 million for the quarter, compared to analyst estimates of $625.94 million. Bally’s had a negative net margin of 21.26% and a negative return on equity of 36.63%. Bally’s’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.74) EPS. On average, equities research analysts predict that Bally’s will post -7.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Bally’s

A number of institutional investors have recently added to or reduced their stakes in BALY. Napatree Capital LLC acquired a new position in shares of Bally’s in the 4th quarter valued at about $2,684,000. TFG Asset Management GP Ltd lifted its position in Bally’s by 36.4% during the fourth quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock valued at $20,910,000 after buying an additional 400,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Bally’s by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after buying an additional 93,681 shares during the period. Trexquant Investment LP acquired a new stake in shares of Bally’s in the third quarter worth $358,000. Finally, Gabelli Funds LLC raised its stake in shares of Bally’s by 24.4% in the 4th quarter. Gabelli Funds LLC now owns 127,624 shares of the company’s stock valued at $1,779,000 after acquiring an additional 25,000 shares during the period. Hedge funds and other 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.