Bally’s Co. (NYSE:BALY) Receives $16.96 Consensus Price Target from Analysts

Bally’s Co. (NYSE:BALY) has received a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.96.

Several analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Barclays dropped their target price on shares of Bally’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 13th. Finally, Citizens Jmp raised shares of Bally’s to a “hold” rating in a report on Tuesday, March 18th.

Bally’s Trading Up 9.7%

BALY opened at $10.53 on Tuesday. The stock has a market capitalization of $516.11 million, a PE ratio of -0.70 and a beta of 2.04. The firm’s fifty day moving average price is $13.44 and its 200 day moving average price is $16.00. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. Bally’s has a 12-month low of $9.11 and a 12-month high of $18.98.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to analysts’ expectations of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. As a group, research analysts expect that Bally’s will post -7.26 EPS for the current fiscal year.

Institutional Trading of Bally’s

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in shares of Bally’s during the fourth quarter worth about $58,000. SG Americas Securities LLC grew its position in shares of Bally’s by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after acquiring an additional 624 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Bally’s during the fourth quarter worth about $196,000. Two Sigma Advisers LP bought a new position in shares of Bally’s during the fourth quarter worth about $250,000. Finally, Wells Fargo & Company MN grew its position in shares of Bally’s by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after acquiring an additional 860 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.