Truist Financial Reiterates Hold Rating for Bally’s (NYSE:BALY)

Bally’s (NYSE:BALY)‘s stock had its “hold” rating reissued by investment analysts at Truist Financial in a report issued on Friday, Benzinga reports. They presently have a $18.25 price target on the stock, up from their prior price target of $16.00. Truist Financial’s price objective indicates a potential upside of 8.18% from the company’s current price.

Several other equities research analysts have also recently weighed in on BALY. JMP Securities reissued a “market perform” rating on shares of Bally’s in a research note on Monday, July 15th. Stifel Nicolaus increased their target price on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their price target on shares of Bally’s from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.88.

Bally’s Stock Up 24.8 %

NYSE:BALY opened at $16.87 on Friday. The company has a debt-to-equity ratio of 8.14, a current ratio of 0.61 and a quick ratio of 0.59. Bally’s has a one year low of $7.28 and a one year high of $16.99. The firm’s 50 day simple moving average is $12.38 and its 200 day simple moving average is $12.31. The company has a market cap of $683.07 million, a PE ratio of -1.63 and a beta of 2.11.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates 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%. Bally’s’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.74) EPS. On average, research analysts anticipate that Bally’s will post -8.07 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently made changes to their positions in BALY. Bank of New York Mellon Corp increased its holdings in Bally’s by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Bally’s by 100.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after buying an additional 1,926 shares during the period. PEAK6 Investments LLC increased its stake in shares of Bally’s by 20.2% in the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after acquiring an additional 4,446 shares in the last quarter. Finally, Garde Capital Inc. increased its stake in shares of Bally’s by 50.0% in the 4th quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors 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.