Bally’s Corporation (NYSE:BALY) Given Consensus Recommendation of “Reduce” by Brokerages

Bally’s Corporation (NYSE:BALY) has been assigned a consensus rating of “Reduce” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $15.25.

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a report on Friday. Barclays set a $11.00 price target on Bally’s and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Tuesday, January 27th.

Bally’s Trading Down 0.2%

Shares of Bally’s stock opened at $10.51 on Wednesday. The company has a 50-day moving average of $13.99 and a two-hundred day moving average of $14.98. Bally’s has a 12-month low of $8.45 and a 12-month high of $20.74. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. The stock has a market cap of $509.86 million, a PE ratio of -2.15 and a beta of 1.45.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Saturday, January 31st. The company reported ($7.53) EPS for the quarter. The firm had revenue of $746.25 million for the quarter. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%. On average, research analysts anticipate that Bally’s will post -7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Bally’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whitefort Capital Management LP lifted its holdings in shares of Bally’s by 43.0% in the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Bally’s during the 4th quarter worth approximately $178,000. Barclays PLC raised its position in shares of Bally’s by 43.1% during the 4th quarter. Barclays PLC now owns 15,077 shares of the company’s stock worth $249,000 after purchasing an additional 4,540 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bally’s by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock valued at $1,015,000 after buying an additional 5,306 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in 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 valued at $43,000 after buying an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.