Bally’s (NYSE:BALY) PT Raised to $14.00

Bally’s (NYSE:BALY) had its target price lifted by stock analysts at Stifel Nicolaus from $11.00 to $14.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 7.53% from the stock’s previous close.

A number of other equities analysts have also weighed in on BALY. Macquarie lowered Bally’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. Truist Financial raised their target price on shares of Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price target on shares of Bally’s in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Bally’s currently has a consensus rating of “Hold” and an average price target of $15.71.

Bally’s Stock Up 0.2 %

BALY traded up $0.02 during trading on Thursday, hitting $13.02. 361,389 shares of the company’s stock were exchanged, compared to its average volume of 464,282. The stock has a market cap of $521.97 million, a P/E ratio of -1.26 and a beta of 2.06. The business’s 50 day moving average is $13.00 and its two-hundred day moving average is $11.93. Bally’s has a fifty-two week low of $7.28 and a fifty-two week high of $16.96. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($3.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($2.48). The company had revenue of $618.48 million for the quarter, compared to the consensus estimate of $625.94 million. Bally’s had a negative return on equity of 32.28% and a negative net margin of 21.26%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.74) EPS. As a group, equities analysts expect that Bally’s will post -3.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Bally’s by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 130,802 shares of the company’s stock valued at $1,715,000 after purchasing an additional 3,503 shares during the period. Strs Ohio increased its position in shares of Bally’s by 96.8% during the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after buying an additional 12,100 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Bally’s by 10.5% during the third quarter. Los Angeles Capital Management LLC now owns 41,072 shares of the company’s stock valued at $538,000 after buying an additional 3,894 shares during the period. Jump Financial LLC bought a new position in Bally’s in the third quarter worth about $389,000. Finally, New York State Common Retirement Fund lifted its holdings in Bally’s by 35.6% in the third 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 period. Institutional investors own 70.41% of the company’s stock.

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.