Bally's (NYSE:BALY) Upgraded to "Hold" at Citizens Jmp

Bally's (NYSE:BALY - Get Free Report) was upgraded by equities research analysts at Citizens Jmp to a "hold" rating in a research report issued on Tuesday, March 18th,Zacks.com reports.

A number of other research firms have also weighed in on BALY. Barclays cut their target price on shares of Bally's from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Stifel Nicolaus dropped their price objective on Bally's from $17.00 to $14.00 and set a "hold" rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.13.

Bally's Stock Performance

Shares of BALY stock traded down $1.48 during trading on Tuesday, reaching $16.06. The company had a trading volume of 30,269 shares, compared to its average volume of 362,477. The firm's 50 day simple moving average is $16.96 and its two-hundred day simple moving average is $17.38. Bally's has a one year low of $10.00 and a one year high of $18.98. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The company has a market capitalization of $779.07 million, a PE ratio of -1.07 and a beta of 2.14.

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Bally's (NYSE:BALY - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $1.34. Bally's had a negative net margin of 30.04% and a negative return on equity of 79.10%. The company had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. Sell-side analysts forecast that Bally's will post -7.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. grew its position in Bally's by 88.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company's stock worth $18,916,000 after buying an additional 496,933 shares in the last quarter. Nexpoint Asset Management L.P. increased its position in shares of Bally's by 88.3% during 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. raised its stake in shares of Bally's by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company's stock valued at $7,631,000 after purchasing an additional 35,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bally's in the third quarter worth $7,326,000. Finally, King Street Capital Management L.P. acquired a new position in shares of Bally's in the 3rd quarter valued at $6,784,000. Institutional investors own 70.41% of the company's stock.

Bally's Company Profile

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.