Bally’s (NYSE:BALY) Shares Down 7.9% – What’s Next?

Shares of Bally’s Corporation (NYSE:BALY) were down 7.9% during trading on Monday . The stock traded as low as $12.40 and last traded at $12.68. Approximately 28,774 shares were traded during trading, a decline of 67% from the average daily volume of 86,876 shares. The stock had previously closed at $13.77.

Analysts Set New Price Targets

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

Bally’s Stock Down 1.4%

The company has a debt-to-equity ratio of 7.13, a current ratio of 0.68 and a quick ratio of 0.66. The stock’s fifty day simple moving average is $15.13 and its 200-day simple moving average is $14.77. The stock has a market cap of $626.54 million, a P/E ratio of -2.61 and a beta of 1.45.

Institutional Investors Weigh In On Bally’s

Several large investors have recently added to or reduced their stakes in BALY. Crossingbridge Advisors LLC bought a new position in shares of Bally’s during the second quarter worth about $240,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Bally’s by 96.1% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock worth $43,000 after acquiring an additional 1,271 shares during the period. Whitefort Capital Management LP lifted its position in Bally’s by 43.0% in the 4th quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock valued at $31,741,000 after purchasing an additional 578,129 shares during the last quarter. Geode Capital Management LLC boosted its stake in Bally’s by 13.9% during the 4th quarter. Geode Capital Management LLC now owns 186,194 shares of the company’s stock valued at $3,077,000 after purchasing an additional 22,784 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Bally’s by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 54,858 shares of the company’s stock valued at $906,000 after purchasing an additional 7,845 shares during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

About Bally’s

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.