Analysts Set Bally’s Corporation (NYSE:BALY) PT at $12.75

Bally’s Corporation (NYSE:BALY) has been assigned an average rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.75.

A number of equities research analysts recently commented on BALY shares. Truist Financial lowered their price target on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, March 27th. Barclays cut their price objective on shares of Bally’s from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, May 20th. Stifel Nicolaus increased their target price on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th.

Bally’s Stock Down 5.2%

Shares of Bally’s stock opened at $12.38 on Friday. Bally’s has a one year low of $8.79 and a one year high of $20.74. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 1.05. The stock’s 50-day moving average is $13.42 and its 200 day moving average is $13.81. The firm has a market cap of $605.81 million, a price-to-earnings ratio of -1.52 and a beta of 1.80.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Monday, May 18th. The company reported ($2.69) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.69). The company had revenue of $755.72 million during the quarter, compared to the consensus estimate of $769.69 million. Bally’s had a negative net margin of 29.98% and a negative return on equity of 56.76%. Equities research analysts anticipate that Bally’s will post -9.36 EPS for the current year.

Institutional Investors Weigh In On Bally’s

Hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey grew its holdings in 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 valued at $43,000 after purchasing an additional 1,271 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Bally’s during the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Bally’s in the 2nd quarter worth about $38,000. MetLife Investment Management LLC purchased a new stake in Bally’s in the 4th quarter worth about $97,000. Finally, Bank of America Corp DE increased its holdings in Bally’s by 2,087.9% in the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock worth $76,000 after acquiring an additional 7,579 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

About Bally’s

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.