Brokerages Set Bally’s Co. (NYSE:BALY) Price Target at $15.33

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

BALY has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective 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. Truist Financial lifted their price target on shares of Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd.

Bally’s Trading Up 6.5 %

Shares of Bally’s stock opened at $12.63 on Tuesday. Bally’s has a fifty-two week low of $7.28 and a fifty-two week high of $16.96. The company has a debt-to-equity ratio of 8.14, a quick ratio of 0.59 and a current ratio of 0.61. The company has a market capitalization of $511.33 million, a P/E ratio of -1.22 and a beta of 2.11. The company has a fifty day moving average of $12.16 and a 200 day moving average of $12.28.

Bally’s (NYSE:BALY) last released its 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). Bally’s had a negative return on equity of 36.63% and a negative net margin of 21.26%. The business had revenue of $618.48 million for the quarter, compared to analysts’ expectations of $625.94 million. During the same quarter in the prior year, the business posted ($0.74) EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, 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

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Bally’s by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after buying an additional 93,681 shares during the period. TFG Asset Management GP Ltd increased its position in Bally’s by 36.4% during the fourth quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock valued at $20,910,000 after acquiring an additional 400,000 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Bally’s by 8.8% in the third quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock valued at $4,385,000 after acquiring an additional 27,003 shares during the period. Napatree Capital LLC bought a new stake in shares of Bally’s in the 4th quarter worth about $2,684,000. Finally, Gamco Investors INC. ET AL boosted 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 purchasing an additional 24,466 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.