Bally’s (NYSE:BALY) Price Target Cut to $13.00 by Analysts at Barclays

Bally’s (NYSE:BALY) had its price objective lowered by Barclays from $14.00 to $13.00 in a research report released on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also recently commented on BALY. Citizens Jmp raised shares of Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Stifel Nicolaus lowered their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.96.

Bally’s Stock Down 3.6%

BALY stock opened at $10.81 on Tuesday. The stock has a market cap of $524.39 million, a PE ratio of -0.72 and a beta of 2.04. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The firm’s 50-day simple moving average is $14.46 and its 200 day simple moving average is $16.38. Bally’s has a fifty-two week low of $10.00 and a fifty-two week high of $18.98.

Bally’s (NYSE:BALY) last released its earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.34. The firm had revenue of $580.37 million for the quarter, compared to analysts’ expectations of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. As a group, sell-side analysts predict that Bally’s will post -7.26 EPS for the current year.

Hedge Funds Weigh In On Bally’s

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after purchasing an additional 624 shares in the last quarter. Yakira Capital Management Inc. boosted its position in shares of Bally’s by 40.9% during the 4th quarter. Yakira Capital Management Inc. now owns 165,300 shares of the company’s stock valued at $2,957,000 after purchasing an additional 47,943 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bally’s by 120.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company’s stock valued at $707,000 after purchasing an additional 22,425 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Bally’s during the 4th quarter valued at about $401,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Bally’s by 30.3% in the fourth quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock worth $3,099,000 after buying an additional 40,250 shares during the period. Institutional investors own 70.41% of the company’s stock.

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.