Bally’s (NYSE:BALY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bally’s (NYSE:BALY) from a sell rating to a hold rating in a report released on Saturday morning.

Several other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 30th. Truist Financial boosted their price target on shares of Bally’s from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus increased their price objective on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Finally, Barclays reduced their price objective on shares of Bally’s from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 20th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.25.

Bally’s Trading Down 26.7%

BALY stock opened at $10.25 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Bally’s has a twelve month low of $8.79 and a twelve month high of $20.74. The company has a market cap of $501.74 million, a P/E ratio of -1.26 and a beta of 1.81. The business has a fifty day moving average of $13.86 and a 200-day moving average of $13.16.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Friday, August 14th. The company reported ($2.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by ($1.33). The firm had revenue of $792.23 million during the quarter, compared to the consensus estimate of $789.89 million. Bally’s had a negative net margin of 25.83% and a negative return on equity of 43.05%. As a group, equities research analysts expect that Bally’s will post -9.36 EPS for the current year.

Institutional Investors Weigh In On Bally’s

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of Bally’s by 9.9% in the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock valued at $113,000 after acquiring an additional 916 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of Bally’s by 96.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock valued at $43,000 after acquiring an additional 1,271 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Bally’s during the second quarter worth about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Bally’s during the second quarter worth about $38,000. Finally, Barclays PLC boosted its position in Bally’s by 43.1% during the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after purchasing an additional 4,540 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 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.