Bally’s Corporation (NYSE:BALY) Given Average Recommendation of “Reduce” by Brokerages

Shares of Bally’s Corporation (NYSE:BALY) have earned an average rating of “Reduce” from the five research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.25.

Several equities research analysts have issued reports on BALY shares. Wall Street Zen cut Bally’s from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Stifel Nicolaus cut their target price on Bally’s from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Truist Financial cut their target price on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research note on Friday, April 24th.

Institutional Investors Weigh In On Bally’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in shares of 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 buying an additional 916 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Bally’s by 96.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock worth $43,000 after buying an additional 1,271 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Bally’s during the second quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bally’s during the second quarter worth $38,000. Finally, Barclays PLC boosted its position in shares of Bally’s by 43.1% during the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock worth $249,000 after buying an additional 4,540 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Price Performance

BALY stock opened at $12.32 on Thursday. The business has a fifty day moving average of $11.99 and a two-hundred day moving average of $14.83. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The stock has a market cap of $600.53 million, a price-to-earnings ratio of -2.26 and a beta of 1.80. Bally’s has a 52-week low of $8.45 and a 52-week high of $20.74.

Bally’s (NYSE:BALY) last posted its earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. The business had revenue of $746.25 million for the quarter. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%. As a group, research analysts anticipate that Bally’s will post -8.85 earnings per share for the current year.

Bally’s Company Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land?based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long?term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.