Bally's (NYSE:BALY - Get Free Report) had its price target cut by stock analysts at Barclays from $18.00 to $14.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential downside of 23.12% from the company's previous close.
Separately, Stifel Nicolaus cut their price objective on shares of Bally's from $17.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.13.
Read Our Latest Report on Bally's
Bally's Price Performance
Shares of Bally's stock traded down $0.03 during trading hours on Monday, reaching $18.21. 56,800 shares of the company's stock were exchanged, compared to its average volume of 377,892. The company has a market capitalization of $740.55 million, a P/E ratio of -1.21 and a beta of 2.05. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally's has a 1 year low of $10.00 and a 1 year high of $18.98. The business has a fifty day moving average of $17.02 and a two-hundred day moving average of $17.35.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BALY. Alpine Associates Management Inc. acquired a new position in shares of Bally's in the 3rd quarter worth approximately $26,665,000. Balyasny Asset Management L.P. raised its position in Bally's by 88.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company's stock valued at $18,916,000 after purchasing an additional 496,933 shares during the period. Nexpoint Asset Management L.P. raised its position in Bally's by 88.3% in the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company's stock valued at $14,461,000 after purchasing an additional 378,950 shares during the period. Citigroup Inc. lifted its stake in Bally's by 8.8% during the third quarter. Citigroup Inc. now owns 442,400 shares of the company's stock worth $7,631,000 after purchasing an additional 35,901 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Bally's during the third quarter worth $7,326,000. Hedge funds and other institutional investors own 70.41% of the company's stock.
Bally's Company Profile
(
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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.
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