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

Shares of Bally’s Co. (NYSE:BALY) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $15.33.

Several equities research analysts recently issued reports on BALY shares. Truist Financial raised their target price on shares of Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Stifel Nicolaus boosted their price objective on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd.

Bally’s Stock Performance

Shares of BALY opened at $12.10 on Monday. The company has a market capitalization of $489.93 million, a price-to-earnings ratio of -1.17 and a beta of 2.06. The company has a debt-to-equity ratio of 8.14, a quick ratio of 0.59 and a current ratio of 0.61. Bally’s has a 1 year low of $7.28 and a 1 year high of $16.96. The company’s 50 day simple moving average is $13.39 and its 200 day simple moving average is $12.35.

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 net margin of 21.26% and a negative return on equity of 36.63%. The business had revenue of $618.48 million during the quarter, compared to analysts’ expectations of $625.94 million. During the same period in the prior year, the firm earned ($0.74) EPS. Bally’s’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Bally’s will post -7.53 EPS for the current year.

Institutional Trading of Bally’s

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Bally’s by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 130,802 shares of the company’s stock valued at $1,715,000 after acquiring an additional 3,503 shares in the last quarter. Strs Ohio grew its holdings in Bally’s by 96.8% during the 3rd quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after purchasing an additional 12,100 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Bally’s by 10.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 41,072 shares of the company’s stock worth $538,000 after buying an additional 3,894 shares during the period. Jump Financial LLC acquired a new position in Bally’s in the 3rd quarter worth $389,000. Finally, New York State Common Retirement Fund boosted its position in Bally’s by 35.6% in the 3rd 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. 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.