Bally's Co. (NYSE:BALY) Receives Average Rating of "Hold" from Analysts

Bally's Co. (NYSE:BALY - Get Free Report) has been given an average recommendation of "Hold" by the eight research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.14.

Several analysts recently issued reports on BALY shares. JMP Securities restated a "market perform" rating on shares of Bally's in a research report on Monday, July 15th. Jefferies Financial Group increased their target price on shares of Bally's from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Truist Financial reissued a "hold" rating and issued a $18.25 price objective (up from $16.00) on shares of Bally's in a research note on Friday, July 26th. Barclays upped their price target on Bally's from $10.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Finally, TD Cowen reaffirmed a "hold" rating and issued a $18.25 target price (up previously from $15.00) on shares of Bally's in a report on Friday, July 26th.

Bally's Stock Performance

NYSE BALY remained flat at $17.50 on Thursday. The company's stock had a trading volume of 380,306 shares, compared to its average volume of 469,981. Bally's has a one year low of $7.28 and a one year high of $18.00. The firm has a market capitalization of $711.03 million, a PE ratio of -1.58 and a beta of 2.08. The company's 50-day moving average is $17.24 and its 200-day moving average is $14.64. The company has a debt-to-equity ratio of 9.28, a quick ratio of 0.58 and a current ratio of 0.60.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.23. The firm had revenue of $621.66 million during the quarter, compared to the consensus estimate of $641.17 million. Bally's had a negative return on equity of 51.13% and a negative net margin of 22.52%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. On average, sell-side analysts predict that Bally's will post -5.32 earnings per share for the current year.

Hedge Funds Weigh In On Bally's

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Bally's in the 3rd quarter valued at about $153,000. Algert Global LLC grew its stake in shares of Bally's by 34.8% in the 2nd quarter. Algert Global LLC now owns 65,176 shares of the company's stock valued at $780,000 after buying an additional 16,826 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Bally's during the 2nd quarter worth approximately $843,000. Alden Global Capital LLC lifted its position in shares of Bally's by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company's stock worth $17,068,000 after purchasing an additional 554,263 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in Bally's during the 2nd quarter worth about $1,053,000. 70.41% of the stock is currently owned by institutional investors.

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.