Bally’s (NYSE:BALY) Releases Earnings Results

Bally’s (NYSE:BALY) posted its earnings results on Monday. The company reported ($2.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.69), Zacks reports. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%.The business had revenue of $755.72 million during the quarter, compared to the consensus estimate of $769.69 million.

Bally’s Stock Performance

BALY opened at $11.84 on Tuesday. The firm has a market cap of $577.08 million, a P/E ratio of -2.17 and a beta of 1.80. Bally’s has a 1-year low of $8.45 and a 1-year high of $20.74. The company has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $14.67. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.77.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Whitefort Capital Management LP raised its holdings in Bally’s by 43.0% during the fourth quarter. Whitefort Capital Management LP now owns 1,921,372 shares of the company’s stock valued at $31,741,000 after acquiring an additional 578,129 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Bally’s in the fourth quarter worth about $178,000. Barclays PLC grew its position in shares of Bally’s by 43.1% during the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock worth $249,000 after purchasing an additional 4,540 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Bally’s by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company’s stock worth $1,015,000 after purchasing an additional 5,306 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake 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. Institutional investors own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

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