Macquarie Cuts Bally’s (NYSE:BALY) Price Target to $12.00

Bally’s (NYSE:BALY) had its price objective decreased by Macquarie from $14.00 to $12.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Macquarie currently has a neutral rating on the stock.

Several other research firms have also commented on BALY. Truist Financial cut their price target on Bally’s from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, July 16th. Stifel Nicolaus dropped their target price on Bally’s from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday. Wall Street Zen lowered Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Barclays dropped their target price on Bally’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.00.

Bally’s Price Performance

Shares of NYSE BALY opened at $9.42 on Tuesday. The firm has a market capitalization of $462.66 million, a PE ratio of -0.80 and a beta of 1.86. Bally’s has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The stock’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $12.79. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.72 and a current ratio of 0.49.

Institutional Trading of Bally’s

A number of institutional investors have recently modified their holdings of BALY. Balyasny Asset Management L.P. boosted its stake in shares of Bally’s by 88.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after buying an additional 496,933 shares in the last quarter. Nexpoint Asset Management L.P. boosted its stake in shares of Bally’s by 88.3% in the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after buying an additional 378,950 shares in the last quarter. Man Group plc purchased a new stake in shares of Bally’s in the fourth quarter valued at approximately $5,187,000. Eisler Capital Management Ltd. purchased a new stake in shares of Bally’s in the fourth quarter valued at approximately $4,699,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bally’s in the fourth quarter valued at approximately $2,005,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

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.