Bally’s (NYSE:BALY) Price Target Raised to $17.00 at Macquarie

Bally’s (NYSE:BALY) had its price target lifted by Macquarie from $12.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently commented on BALY. Wall Street Zen raised shares of Bally’s from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research note on Thursday, October 30th. Truist Financial lifted their price target on Bally’s from $13.00 to $18.00 and gave the company a “hold” rating in a research report on Friday. Barclays lowered their target price on Bally’s from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Finally, Stifel Nicolaus upped their price target on shares of Bally’s from $10.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $16.50.

Bally’s Stock Up 6.2%

Shares of Bally’s stock traded up $1.01 during trading on Friday, reaching $17.29. The company had a trading volume of 109,940 shares, compared to its average volume of 202,826. The company has a market cap of $849.83 million, a price-to-earnings ratio of -3.34 and a beta of 2.00. Bally’s has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The firm’s fifty day moving average is $14.03 and its 200-day moving average is $11.52. The company has a debt-to-equity ratio of 7.13, a quick ratio of 0.47 and a current ratio of 0.68.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.99). The business had revenue of $210.25 million for the quarter, compared to the consensus estimate of $668.49 million. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. On average, analysts anticipate that Bally’s will post -7.26 EPS for the current year.

Hedge Funds Weigh In On Bally’s

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Bally’s by 9.9% in the third quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock worth $113,000 after acquiring an additional 916 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Bally’s in the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally’s during the 2nd quarter worth about $38,000. Wolverine Asset Management LLC raised its position in shares of Bally’s by 35.8% during the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after buying an additional 4,345 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Bally’s by 2,087.9% in the second quarter. Bank of America Corp DE now owns 7,942 shares of the company’s stock valued at $76,000 after buying an additional 7,579 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Bally’s Company Profile

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.