Bally’s Co. (NYSE:BALY) Given Average Recommendation of “Hold” by Brokerages

Bally’s Co. (NYSE:BALY) has been assigned an average rating of “Hold” from the eight ratings firms that are presently 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 1 year price target among analysts that have covered the stock in the last year is $17.14.

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays raised their price target on shares of Bally’s from $10.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen reaffirmed a “hold” rating and set a $18.25 price objective (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Jefferies Financial Group lifted their target price on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upgraded Bally’s from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $11.00 to $18.25 in a report on Monday, July 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BALY. Alden Global Capital LLC lifted its stake in Bally’s by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock worth $17,068,000 after purchasing an additional 554,263 shares during the last quarter. TFG Asset Management GP Ltd raised its holdings 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 purchasing an additional 400,000 shares in the last quarter. Napatree Capital LLC purchased a new stake in shares of Bally’s during the 4th quarter worth approximately $2,684,000. DRW Securities LLC acquired a new position in shares of Bally’s in the 2nd quarter valued at $1,053,000. Finally, Whitebox Advisors LLC purchased a new position in shares of Bally’s in the 1st quarter valued at $1,152,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Stock Up 0.1 %

Bally’s stock opened at $17.26 on Friday. The company has a market capitalization of $701.27 million, a PE ratio of -1.67 and a beta of 2.09. The company has a debt-to-equity ratio of 9.28, a quick ratio of 0.58 and a current ratio of 0.60. Bally’s has a fifty-two week low of $7.28 and a fifty-two week high of $17.73. The firm has a 50 day moving average price of $16.88 and a 200 day moving average price of $14.25.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.23. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm had revenue of $621.66 million for the quarter, compared to the consensus estimate of $641.17 million. During the same quarter in the previous year, the business earned ($0.25) EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts expect that Bally’s will post -5.2 earnings per share for the current year.

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.