Bally’s (NYSE:BALY) Price Target Raised to $18.00

Bally’s (NYSE:BALY) had its price target boosted by equities research analysts at Truist Financial from $13.00 to $18.00 in a report released on Friday, MarketBeat Ratings reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 3.00% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday. Wall Street Zen raised shares of Bally’s from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Barclays reduced their price objective on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Macquarie dropped their target price on Bally’s from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.25.

Bally’s Trading Up 7.3%

NYSE BALY traded up $1.20 during trading hours on Friday, hitting $17.48. 26,963 shares of the company were exchanged, compared to its average volume of 92,118. Bally’s has a 52 week low of $8.45 and a 52 week high of $23.20. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 5.54. The stock has a 50-day moving average price of $13.87 and a 200 day moving average price of $11.49. The stock has a market cap of $858.37 million, a PE ratio of -3.38 and a beta of 2.00.

Bally’s (NYSE:BALY) last announced its earnings results on Wednesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.99). Bally’s had a negative return on equity of 64.61% and a negative net margin of 17.41%.The company had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $668.49 million. Analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Bally’s by 21,781.4% in the third quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company’s stock valued at $8,418,000 after acquiring an additional 754,945 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bally’s by 113.1% during the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after purchasing an additional 87,346 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Bally’s during the 2nd quarter valued at $867,000. Crossingbridge Advisors LLC boosted its position in shares of Bally’s by 40.0% in the 3rd quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company’s stock worth $388,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in Bally’s by 44.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 23,734 shares of the company’s stock worth $263,000 after buying an additional 7,266 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.