Bally’s (NYSE:BALY) Shares Down 4.7% – Time to Sell?

Bally’s Corporation (NYSE:BALY)’s share price traded down 4.7% on Monday . The stock traded as low as $14.31 and last traded at $14.28. 15,850 shares were traded during mid-day trading, a decline of 81% from the average session volume of 83,230 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BALY shares. Macquarie Infrastructure lifted their target price on shares of Bally’s from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Truist Financial lifted their price objective on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, November 14th. Stifel Nicolaus upped their target price on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Barclays set a $11.00 price target on Bally’s and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research note on Tuesday, January 27th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Bally’s presently has an average rating of “Reduce” and a consensus price target of $16.50.

Bally’s Trading Down 6.4%

The stock has a market capitalization of $689.50 million, a price-to-earnings ratio of -2.87 and a beta of 1.46. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13. The company has a fifty day moving average of $16.42 and a two-hundred day moving average of $14.08.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) EPS for the quarter. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. The company had revenue of $210.25 million for the quarter. On average, research analysts expect that Bally’s Corporation will post -7.26 EPS for the current year.

Institutional Investors Weigh In On Bally’s

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock valued at $8,418,000 after buying an additional 754,945 shares during the period. Janney Montgomery Scott LLC acquired a new position in Bally’s in the 2nd quarter valued at approximately $867,000. Geode Capital Management LLC lifted its position in shares of Bally’s by 113.1% in the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after acquiring an additional 87,346 shares during the period. JB Capital Partners LP bought a new stake in shares of Bally’s in the 3rd quarter worth approximately $555,000. Finally, Crossingbridge Advisors LLC acquired a new stake in shares of Bally’s during the 2nd quarter worth approximately $240,000. 70.41% of the stock is currently owned by 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.