Brokerages Set Bally’s Co. (NYSE:BALY) Price Target at $15.71

Bally’s Co. (NYSE:BALY) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.33.

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Stifel Nicolaus raised their price objective on shares of Bally’s from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd.

Bally’s Trading Down 2.2 %

Shares of BALY stock opened at $12.68 on Monday. The company has a debt-to-equity ratio of 8.14, a current ratio of 0.61 and a quick ratio of 0.59. The firm has a market cap of $513.41 million, a PE ratio of -1.23 and a beta of 2.06. The company has a 50-day moving average of $13.44 and a two-hundred day moving average of $12.33. Bally’s has a 1-year low of $7.28 and a 1-year high of $16.96.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($3.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($2.48). The business had revenue of $618.48 million for the quarter, compared to analyst estimates of $625.94 million. Bally’s had a negative return on equity of 36.63% and a negative net margin of 21.26%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.74) EPS. On average, analysts predict that Bally’s will post -6.46 EPS for the current year.

Hedge Funds Weigh In On Bally’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Whitebox Advisors LLC purchased a new stake in shares of Bally’s during the 1st quarter worth $1,152,000. Price T Rowe Associates Inc. MD raised its stake in shares of Bally’s by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after buying an additional 1,394 shares during the last quarter. PEAK6 Investments LLC raised its stake in shares of Bally’s by 20.2% during the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Bally’s by 32.9% during the 1st quarter. Gabelli Funds LLC now owns 169,624 shares of the company’s stock worth $2,365,000 after buying an additional 42,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Bally’s by 16.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 177,294 shares of the company’s stock worth $2,471,000 after buying an additional 24,466 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

About Bally’s

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.