Analysts Set Bally’s Co. (NYSE:BALY) Target Price at $15.29

Bally’s Co. (NYSE:BALY) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.29.

Several brokerages recently weighed in on BALY. Truist Financial lifted their price target on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Macquarie lowered shares of Bally’s from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.00 in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus reduced their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, February 22nd.

Institutional Trading of Bally’s

A number of large investors have recently made changes to their positions in BALY. Bank of New York Mellon Corp grew its holdings in Bally’s by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 130,802 shares of the company’s stock worth $1,715,000 after acquiring an additional 3,503 shares in the last quarter. Strs Ohio raised its stake in Bally’s by 96.8% in the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after buying an additional 12,100 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Bally’s by 10.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 41,072 shares of the company’s stock worth $538,000 after buying an additional 3,894 shares during the last quarter. Jump Financial LLC purchased a new stake in Bally’s during the 3rd quarter worth about $389,000. Finally, New York State Common Retirement Fund boosted its position in shares of Bally’s by 35.6% during the 3rd quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock worth $149,000 after acquiring an additional 2,987 shares in the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Trading Down 0.3 %

NYSE:BALY opened at $13.96 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73. The firm has a fifty day simple moving average of $12.74 and a 200-day simple moving average of $11.83. Bally’s has a 12 month low of $7.28 and a 12 month high of $17.83. The company has a market capitalization of $559.66 million, a P/E ratio of -3.99 and a beta of 2.08.

Bally’s (NYSE:BALY) last released its earnings results on Wednesday, February 21st. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. The firm had revenue of $611.67 million for the quarter, compared to analyst estimates of $626.62 million. On average, equities research analysts anticipate that Bally’s will post -3.76 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.