Bally’s (NYSE:BALY) PT Raised to $16.00 at Truist Financial

Bally’s (NYSE:BALY) had its price target upped by equities researchers at Truist Financial from $14.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 11.58% from the stock’s current price.

BALY has been the topic of a number of other reports. Macquarie lowered Bally’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Wednesday, January 17th. Stifel Nicolaus cut their price objective on Bally’s from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 target price on shares of Bally’s in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.29.

Bally’s Price Performance

Shares of NYSE:BALY traded up $0.17 during trading on Tuesday, reaching $14.34. The company had a trading volume of 157,462 shares, compared to its average volume of 486,419. The firm’s fifty day moving average is $12.49 and its 200 day moving average is $11.74. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65. The firm has a market capitalization of $574.89 million, a PE ratio of -4.08 and a beta of 2.08. Bally’s has a twelve month low of $7.28 and a twelve month high of $18.66.

Bally’s (NYSE:BALY) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $626.62 million. On average, equities analysts forecast that Bally’s will post -3.73 EPS for the current year.

Institutional Trading of Bally’s

Several large investors have recently made changes to their positions in BALY. Tower Research Capital LLC TRC boosted its position in shares of Bally’s by 100.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock valued at $54,000 after acquiring an additional 1,926 shares during the period. Garde Capital Inc. grew its position in Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after buying an additional 2,000 shares in the last quarter. New York State Common Retirement Fund increased its stake in Bally’s by 35.6% during the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after acquiring an additional 2,987 shares during the period. Shell Asset Management Co. acquired a new position in Bally’s in the 3rd quarter valued at approximately $206,000. Finally, Counterpoint Mutual Funds LLC lifted its position in shares of Bally’s by 95.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 16,672 shares of the company’s stock worth $219,000 after acquiring an additional 8,123 shares during the period. Institutional investors own 70.41% of the company’s stock.

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.