Bally's Corporation (NYSE:BALY) Receives $11.00 Average Price Target from Brokerages

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.

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

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

Bally's Price Performance

NYSE BALY traded up $0.07 on Friday, hitting $9.99. The stock had a trading volume of 30,350 shares, compared to its average volume of 41,005. The firm has a 50-day moving average of $9.86 and a 200-day moving average of $11.79. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.47 and a current ratio of 0.49. Bally's has a 52-week low of $8.45 and a 52-week high of $23.20. The company has a market capitalization of $490.46 million, a price-to-earnings ratio of -0.85 and a beta of 1.86.

Hedge Funds Weigh In On Bally's

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in Bally's during the 4th quarter valued at approximately $58,000. JPMorgan Chase & Co. purchased a new position in shares of Bally's during the second quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bally's during the second quarter valued at approximately $38,000. Wolverine Asset Management LLC raised its holdings in shares of Bally's by 35.8% during the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company's stock valued at $158,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Bally's by 17.2% in the fourth quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock worth $553,000 after acquiring an additional 4,533 shares during the period. Institutional investors own 70.41% of the company's stock.

About Bally's

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.