Bally’s Co. (NYSE:BALY) Given Average Rating of “Hold” by Brokerages

Shares of Bally’s Co. (NYSE:BALY) have been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $17.14.

Several research analysts have recently issued reports on BALY shares. Wells Fargo & Company raised Bally’s from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $11.00 to $18.25 in a research report on Monday, July 29th. Jefferies Financial Group upped their price objective on Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen reaffirmed a “hold” rating and set a $18.25 price objective (up from $15.00) on shares of Bally’s in a research report on Friday, July 26th. JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Finally, Stifel Nicolaus upped their price objective on Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research report on Thursday, August 1st.

Bally’s Price Performance

Shares of NYSE BALY opened at $17.50 on Thursday. The stock’s 50-day moving average is $17.24 and its two-hundred day moving average is $14.64. 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 1-year low of $7.28 and a 1-year high of $18.00. The company has a market cap of $711.03 million, a price-to-earnings ratio of -1.58 and a beta of 2.08.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.23. The company 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%. Bally’s’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.25) EPS. Analysts forecast that Bally’s will post -5.32 EPS for the current fiscal year.

Institutional Trading of Bally’s

A number of large investors have recently made changes to their positions in the company. Gabelli Funds LLC raised its stake in Bally’s by 32.9% during the 1st quarter. Gabelli Funds LLC now owns 169,624 shares of the company’s stock valued at $2,365,000 after acquiring an additional 42,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Bally’s by 2.7% during the 1st 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 last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Bally’s during the 2nd quarter valued at approximately $843,000. Renaissance Technologies LLC purchased a new stake in Bally’s during the 2nd quarter valued at approximately $560,000. Finally, Empowered Funds LLC raised its stake in Bally’s by 8.1% during the 1st quarter. Empowered Funds LLC now owns 140,130 shares of the company’s stock valued at $1,953,000 after acquiring an additional 10,500 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.