Truist Financial Boosts Bally’s (NYSE:BALY) Price Target to $16.00

Bally’s (NYSE:BALY) had its price objective upped by Truist Financial from $14.00 to $16.00 in a research report released on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on BALY. Stifel Nicolaus dropped their target price on Bally’s from $13.00 to $11.00 and set a hold rating on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company restated an underweight rating and set a $10.00 target price on shares of Bally’s in a research report on Friday, January 5th. Finally, Macquarie cut Bally’s from an outperform rating to a neutral rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $15.29.

Bally’s Stock Performance

NYSE BALY opened at $14.00 on Tuesday. The stock has a 50-day simple moving average of $12.68 and a two-hundred day simple moving average of $11.80. The firm has a market capitalization of $561.26 million, a P/E ratio of -4.00 and a beta of 2.08. Bally’s has a fifty-two week low of $7.28 and a fifty-two week high of $17.83. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). The company had revenue of $611.67 million for the quarter, compared to analysts’ expectations of $626.62 million. Bally’s had a negative net margin of 7.05% and a negative return on equity of 17.92%. On average, equities analysts forecast that Bally’s will post -3.73 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several institutional investors have recently bought and sold shares of BALY. Tower Research Capital LLC TRC boosted its holdings in Bally’s by 100.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after buying an additional 1,926 shares during the last quarter. Garde Capital Inc. boosted its holdings in Bally’s by 25.0% in the 3rd quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after buying an additional 2,000 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Bally’s by 35.6% in the 3rd quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock worth $149,000 after buying an additional 2,987 shares during the last quarter. Shell Asset Management Co. acquired a new stake in Bally’s in the 3rd quarter worth about $206,000. Finally, Counterpoint Mutual Funds LLC boosted its holdings in Bally’s by 95.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 16,672 shares of the company’s stock worth $219,000 after buying an additional 8,123 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.