Bally’s (NYSE:BALY) Price Target Increased to $18.00 by Analysts at Barclays

Bally’s (NYSE:BALY) had its price objective raised by Barclays from $10.00 to $18.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

BALY has been the subject of a number of other reports. JMP Securities reissued a market perform rating on shares of Bally’s in a research note on Monday, July 15th. Wells Fargo & Company raised shares of Bally’s from an underweight rating to an equal weight rating and boosted their target price for the stock from $11.00 to $18.25 in a research report on Monday. Truist Financial reiterated a hold rating and issued a $18.25 target price (up previously from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Stifel Nicolaus lifted their price objective on Bally’s from $14.00 to $18.25 and gave the company a hold rating in a research note on Thursday. Finally, TD Cowen restated a hold rating and set a $18.25 target price (up from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $17.14.

Bally’s Stock Performance

Shares of BALY traded up $0.01 during trading hours on Thursday, hitting $17.15. The stock had a trading volume of 149,678 shares, compared to its average volume of 477,992. The stock has a fifty day moving average price of $12.82 and a 200 day moving average price of $12.51. The firm has a market capitalization of $694.40 million, a PE ratio of -1.66 and a beta of 2.10. Bally’s has a 12 month low of $7.28 and a 12 month high of $17.44. The company has a debt-to-equity ratio of 8.14, a current ratio of 0.61 and a quick ratio of 0.59.

Bally’s (NYSE:BALY) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). The business had revenue of $618.48 million during the quarter, compared to analysts’ expectations of $625.94 million. Bally’s had a negative return on equity of 45.96% and a negative net margin of 22.52%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.74) earnings per share. Analysts anticipate that Bally’s will post -8.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Bally’s by 100.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock valued at $54,000 after purchasing an additional 1,926 shares in the last quarter. Garde Capital Inc. grew its holdings in shares of Bally’s by 50.0% during the fourth quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock worth $209,000 after buying an additional 5,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Bally’s by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock valued at $281,000 after acquiring an additional 1,394 shares during the last quarter. PEAK6 Investments LLC lifted its position in Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares during the period. Finally, Wolverine Asset Management LLC boosted its position in shares of Bally’s by 200.1% in the fourth quarter. Wolverine Asset Management LLC now owns 39,951 shares of the company’s stock worth $557,000 after acquiring an additional 26,640 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Company Profile

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.