Bally’s Co. (NYSE:BALY) Receives Consensus Rating of “Hold” from Brokerages

Bally’s Co. (NYSE:BALY) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.14.

A number of analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Jefferies Financial Group raised their price objective on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on Bally’s from $10.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $11.00 to $18.25 in a report on Monday, July 29th. Finally, Stifel Nicolaus increased their target price on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st.

Bally’s Stock Down 0.5 %

Shares of NYSE BALY opened at $17.22 on Friday. The stock has a 50 day moving average price of $16.60 and a 200 day moving average price of $14.06. The firm has a market capitalization of $699.65 million, a price-to-earnings ratio of -1.66 and a beta of 2.09. Bally’s has a 52-week low of $7.28 and a 52-week high of $17.73. The company has a debt-to-equity ratio of 9.28, a quick ratio of 0.58 and a current ratio of 0.60.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.23. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. During the same quarter last year, the firm posted ($0.25) earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts expect that Bally’s will post -5.2 earnings per share for the current year.

Institutional Trading of Bally’s

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Bally’s by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock valued at $23,912,000 after purchasing an additional 44,460 shares in the last quarter. TFG Asset Management GP Ltd grew its holdings in shares of 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 buying an additional 400,000 shares during the last quarter. Alden Global Capital LLC increased its position in shares of Bally’s by 63.6% in the 2nd quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock valued at $17,068,000 after acquiring an additional 554,263 shares during the period. Dimensional Fund Advisors LP raised its stake in Bally’s by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 333,680 shares of the company’s stock worth $3,994,000 after acquiring an additional 28,590 shares during the last quarter. Finally, Napatree Capital LLC acquired a new stake in Bally’s during the 4th quarter worth about $2,684,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.