Bally’s Co. (NYSE:BALY) Receives $15.71 Average Price Target from Brokerages

Shares of Bally’s Co. (NYSE:BALY) have earned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.33.

BALY has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Truist Financial lifted their price target on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd.

Bally’s Trading Down 1.7 %

NYSE:BALY opened at $12.10 on Monday. Bally’s has a 12-month low of $7.28 and a 12-month high of $16.96. The firm has a market cap of $489.93 million, a PE ratio of -1.17 and a beta of 2.06. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 8.14. The stock has a fifty day moving average price of $13.39 and a 200 day moving average price of $12.39.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). Bally’s had a negative return on equity of 36.63% and a negative net margin of 21.26%. The company had revenue of $618.48 million for the quarter, compared to analyst estimates of $625.94 million. During the same period in the prior year, the firm posted ($0.74) earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Bally’s will post -7.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Bally’s by 100.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after purchasing an additional 1,926 shares in the last quarter. Garde Capital Inc. increased 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 during the period. New York State Common Retirement Fund lifted its stake in Bally’s by 35.6% in the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after buying an additional 2,987 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Bally’s in the third quarter valued at approximately $206,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Bally’s by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after acquiring an additional 1,394 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.