Bally’s (NYSE:BALY) Price Target Raised to $18.25

Bally’s (NYSE:BALY) had its target price raised by Stifel Nicolaus from $14.00 to $18.25 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts also recently issued reports on the company. TD Cowen reissued a hold rating and set a $18.25 price target (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Truist Financial reaffirmed a hold rating and set a $18.25 price objective (up previously from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Wells Fargo & Company raised shares of Bally’s from an underweight rating to an equal weight rating and lifted their price target for the stock from $11.00 to $18.25 in a report on Monday, July 29th. Finally, JMP Securities reissued a market perform rating on shares of Bally’s in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Bally’s has an average rating of Hold and an average target price of $17.14.

Bally’s Stock Down 2.0 %

Shares of NYSE:BALY opened at $16.80 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 8.14. The firm’s 50-day moving average is $12.92 and its 200 day moving average is $12.59. Bally’s has a 12 month low of $7.28 and a 12 month high of $17.44.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.23. The firm had revenue of $621.66 million during the quarter, compared to analyst estimates of $641.17 million. Bally’s had a negative net margin of 22.52% and a negative return on equity of 45.96%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts expect that Bally’s will post -6.14 earnings per share for the current fiscal year.

Institutional Trading of Bally’s

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