Bally’s Co. (NYSE:BALY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bally’s Co. (NYSE:BALY) have received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.14.

Several research firms have recently weighed in on BALY. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $11.00 to $18.25 in a research note on Monday, July 29th. Barclays boosted their price objective on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research note on Thursday, August 1st. TD Cowen restated a “hold” rating and set a $18.25 price objective (up from $15.00) on shares of Bally’s in a research note on Friday, July 26th. Finally, Truist Financial restated a “hold” rating and set a $18.25 price objective (up from $16.00) on shares of Bally’s in a research note on Friday, July 26th.

Bally’s Stock Down 0.2 %

Shares of BALY stock opened at $17.42 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 9.28. Bally’s has a 1 year low of $7.28 and a 1 year high of $18.00. The firm’s fifty day moving average price is $17.27 and its two-hundred day moving average price is $14.72. The firm has a market capitalization of $705.25 million, a P/E ratio of -1.68 and a beta of 2.08.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.23. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. The firm had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. During the same period in the previous year, the business earned ($0.25) EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Bally’s will post -5.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BALY. Empowered Funds LLC grew its stake in Bally’s by 8.1% in the 1st quarter. Empowered Funds LLC now owns 140,130 shares of the company’s stock valued at $1,953,000 after buying an additional 10,500 shares during the last quarter. Spirepoint Private Client LLC bought a new stake in Bally’s in the 1st quarter valued at about $697,000. Vanguard Group Inc. boosted its holdings in Bally’s by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,715,327 shares of the company’s stock valued at $23,912,000 after purchasing an additional 44,460 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Bally’s by 16.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 177,294 shares of the company’s stock valued at $2,471,000 after purchasing an additional 24,466 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Bally’s by 32.9% in the 1st quarter. Gabelli Funds LLC now owns 169,624 shares of the company’s stock valued at $2,365,000 after purchasing an additional 42,000 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Bally’s

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.