Bally’s (NYSE:BALY) Stock Rating Lowered by Wall Street Zen

Bally’s (NYSE:BALY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

BALY has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research note on Tuesday, January 27th. Stifel Nicolaus lowered their target price on shares of Bally’s from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Truist Financial lowered their target price on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Bally’s presently has a consensus rating of “Reduce” and an average target price of $13.25.

Bally’s Stock Up 0.1%

Shares of BALY opened at $11.89 on Friday. The firm has a market capitalization of $579.27 million, a P/E ratio of -2.18 and a beta of 1.55. Bally’s has a 12-month low of $8.45 and a 12-month high of $20.74. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. The firm has a fifty day moving average price of $12.48 and a 200-day moving average price of $14.98.

Bally’s (NYSE:BALY) last issued its earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. The company had revenue of $746.25 million for the quarter. Bally’s had a negative net margin of 26.39% and a negative return on equity of 63.15%. Equities research analysts expect that Bally’s will post -7.26 earnings per share for the current year.

Institutional Trading of Bally’s

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock worth $8,418,000 after acquiring an additional 754,945 shares during the period. JB Capital Partners LP purchased a new stake in Bally’s in the third quarter worth about $555,000. Crossingbridge Advisors LLC lifted its stake in Bally’s by 40.0% in the third quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company’s stock worth $388,000 after acquiring an additional 10,000 shares during the period. Wolverine Asset Management LLC lifted its stake in Bally’s by 44.1% in the third quarter. Wolverine Asset Management LLC now owns 23,734 shares of the company’s stock worth $263,000 after acquiring an additional 7,266 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Bally’s by 133.9% in the fourth quarter. Wells Fargo & Company MN now owns 10,540 shares of the company’s stock worth $174,000 after acquiring an additional 6,034 shares during the period. 70.41% of the stock is owned by hedge funds and other institutional investors.

Bally’s Company Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.