Bally’s (NYSE:BALY) Price Target Raised to $14.00 at Stifel Nicolaus

Bally’s (NYSE:BALY) had its price objective hoisted by Stifel Nicolaus from $11.00 to $14.00 in a research report report published on Thursday, Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently weighed in on BALY. Truist Financial lifted their price target on Bally’s from $14.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. Wells Fargo & Company restated an underweight rating and issued a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Finally, Macquarie cut shares of Bally’s from an outperform rating to a neutral rating and lowered their target price for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Bally’s currently has a consensus rating of Hold and a consensus target price of $15.71.

Bally’s Trading Up 0.2 %

Shares of Bally’s stock opened at $13.02 on Thursday. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The business has a fifty day simple moving average of $13.00 and a two-hundred day simple moving average of $11.96. Bally’s has a 1 year low of $7.28 and a 1 year high of $16.96. The company has a market capitalization of $521.96 million, a price-to-earnings ratio of -1.26 and a beta of 2.06.

Bally’s (NYSE:BALY) last posted its earnings results on Wednesday, May 1st. The company reported ($3.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). Bally’s had a negative return on equity of 32.28% and a negative net margin of 21.26%. The company had revenue of $618.48 million for the quarter, compared to analyst estimates of $625.94 million. During the same quarter in the prior year, the business posted ($0.74) EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Bally’s will post -5.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HG Vora Capital Management LLC boosted its holdings in shares of Bally’s by 11.1% in the 3rd quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company’s stock valued at $32,775,000 after purchasing an additional 250,000 shares in the last quarter. Vanguard Group Inc. grew its position in Bally’s by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after acquiring an additional 93,681 shares during the last quarter. TFG Asset Management GP Ltd raised its stake 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 worth $20,910,000 after acquiring an additional 400,000 shares in the last quarter. Rathbones Group PLC bought a new position in shares of Bally’s in the third quarter worth about $8,163,000. Finally, AQR Capital Management LLC boosted its stake in shares of Bally’s by 8.8% in the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock valued at $4,385,000 after purchasing an additional 27,003 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

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.