Bally’s (NYSE:BALY) Posts Quarterly Earnings Results, Beats Expectations By $1,000.00 EPS

Bally’s (NYSE:BALY) released its quarterly earnings results on Monday. The company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $1,000.00, Zacks reports. Bally’s had a negative net margin of 26.39% and a negative return on equity of 63.15%.

Bally’s Stock Performance

BALY stock traded up $0.20 on Monday, reaching $11.84. 22,679 shares of the company were exchanged, compared to its average volume of 75,208. The firm has a market capitalization of $577.08 million, a PE ratio of -2.17 and a beta of 1.80. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.77. The stock’s fifty day moving average price is $11.90 and its 200 day moving average price is $14.73. Bally’s has a 12 month low of $8.45 and a 12 month high of $20.74.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake 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 purchasing an additional 916 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Bally’s by 96.1% during 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 purchasing an additional 1,271 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Bally’s in the 2nd quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bally’s in the 2nd quarter valued at about $38,000. Finally, Barclays PLC increased its stake in shares of Bally’s by 43.1% in the 4th quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after acquiring an additional 4,540 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BALY shares. Truist Financial decreased their price objective on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating for the company in a report on Friday, March 27th. Stifel Nicolaus lowered their price objective on shares of Bally’s from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bally’s in a research report on Friday, April 24th. Finally, Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.25.

About Bally’s

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.