Bally’s (NYSE:BALY) Price Target Increased to $18.25 by Analysts at Stifel Nicolaus

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

Several other equities research analysts have also weighed in on the company. Truist Financial restated a hold rating and issued a $18.25 target price (up from $16.00) on shares of Bally’s in a report on Friday, July 26th. TD Cowen reiterated a hold rating and issued a $18.25 target price (up from $15.00) on shares of Bally’s in a research note on Friday, July 26th. Wells Fargo & Company upgraded shares of Bally’s from an underweight rating to an equal weight rating and upped their price target for the company from $11.00 to $18.25 in a report on Monday, July 29th. Finally, JMP Securities reiterated a market perform rating on shares of Bally’s in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Bally’s currently has a consensus rating of Hold and an average price target of $17.14.

Bally’s Stock Down 2.0 %

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. Bally’s has a 12-month low of $7.28 and a 12-month high of $17.44. The company has a 50 day moving average price of $12.92 and a two-hundred day moving average price of $12.59.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.23. Bally’s had a negative net margin of 22.52% and a negative return on equity of 45.96%. The firm had revenue of $621.66 million during the quarter, compared to analysts’ expectations of $641.17 million. During the same period in the prior year, the company posted ($0.25) earnings per share. Bally’s’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts predict that Bally’s will post -6.14 EPS for the current year.

Institutional Investors Weigh In On Bally’s

A number of institutional investors have recently added to or reduced their stakes in BALY. Vanguard Group Inc. lifted its position in shares of Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after acquiring an additional 93,681 shares during the period. Strs Ohio raised its stake in shares of Bally’s by 77.2% in the fourth quarter. Strs Ohio now owns 43,600 shares of the company’s stock valued at $607,000 after purchasing an additional 19,000 shares in the last quarter. Wolverine Asset Management LLC lifted its position in 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 purchasing an additional 26,640 shares during the period. Jump Financial LLC boosted its stake in Bally’s by 150.5% during the fourth quarter. Jump Financial LLC now owns 74,398 shares of the company’s stock worth $1,037,000 after buying an additional 44,702 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Bally’s by 101.5% in the 4th quarter. Trexquant Investment LP now owns 55,056 shares of the company’s stock valued at $767,000 after buying an additional 27,736 shares in the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.