Bally’s Corporation (NYSE:BALY) Receives Average Recommendation of “Hold” from Analysts

Shares of Bally’s Corporation (NYSE:BALY) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Bally’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Stifel Nicolaus decreased their price objective on Bally’s from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, August 12th. Macquarie lowered their target price on shares of Bally’s from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 12th. Truist Financial reduced their target price on shares of Bally’s from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Finally, Barclays lowered their price target on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th.

Institutional Investors Weigh In On Bally’s

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in Bally’s during the fourth quarter worth approximately $58,000. Bank of America Corp DE raised its holdings in shares of Bally’s by 17.2% during the 4th quarter. Bank of America Corp DE now owns 30,932 shares of the company’s stock worth $553,000 after acquiring an additional 4,533 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Bally’s during the 4th quarter worth $250,000. Regatta Capital Group LLC acquired a new position in shares of Bally’s during the 1st quarter valued at about $780,000. Finally, Spirepoint Private Client LLC purchased a new stake in shares of Bally’s in the first quarter valued at about $246,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Trading Down 1.9%

Shares of Bally’s stock opened at $11.20 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 5.54. Bally’s has a twelve month low of $8.45 and a twelve month high of $23.20. The firm has a market capitalization of $550.14 million, a PE ratio of -0.96 and a beta of 1.86. The firm’s 50-day moving average price is $9.91 and its 200 day moving average price is $11.29.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.