Bally's Corporation (NYSE:BALY) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Bally's Corporation (NYSE:BALY) has received an average rating of "Hold" from five brokerages covering the stock, with a 12-month price target averaging $11.00.
• Several analysts, including Stifel Nicolaus and Macquarie, have lowered their price targets for Bally's, indicating cautious sentiment regarding the company's performance.
• Institutional investors hold 70.41% of Bally's stock, with significant recent investments from firms like Bank of America and JPMorgan Chase.

Bally's Corporation (NYSE:BALY - Get Free Report) has been assigned an average recommendation of "Hold" from the five ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.00.

BALY has been the topic of several research analyst reports. Wall Street Zen raised shares of Bally's from a "sell" rating to a "hold" rating in a research note on Sunday. Truist Financial dropped their target price on Bally's from $15.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Barclays decreased their price objective on shares of Bally's from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Stifel Nicolaus dropped their price objective on Bally's from $12.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Finally, Macquarie dropped their price target on shares of Bally's from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, August 12th.

Bally's Stock Performance

BALY traded up $0.07 during trading on Friday, hitting $9.99. The stock had a trading volume of 4,710 shares, compared to its average volume of 61,387. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 5.54. The company has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $11.83. The firm has a market cap of $490.71 million, a PE ratio of -0.85 and a beta of 1.86. Bally's has a 12 month low of $8.45 and a 12 month high of $23.20.

Hedge Funds Weigh In On Bally's

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Bally's during the fourth quarter valued at about $58,000. JPMorgan Chase & Co. bought a new position in shares of Bally's in the 2nd quarter worth about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Bally's in the 2nd quarter worth about $38,000. Bank of America Corp DE increased its holdings in shares of Bally's by 2,087.9% in the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company's stock worth $76,000 after purchasing an additional 7,579 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Bally's in the 2nd quarter worth approximately $97,000. Hedge funds and other 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.