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

Key Points

• Bally's Corporation has received an average recommendation of "Hold" from five analysts, with a target price of $11.00 for the next twelve months.
• Analysts have adjusted target prices, with Stifel Nicolaus decreasing their target from $12.00 to $10.00 and Truist Financial lowering it from $15.00 to $11.00.
• Institutional ownership is strong, as hedge funds and large investors control 70.41% of Bally's stock.

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

Several analysts recently commented on the company. Stifel Nicolaus dropped their target price on Bally's from $12.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, August 12th. Macquarie dropped 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 note on Tuesday, August 12th. Truist Financial decreased their target price on shares of Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Bally's from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Finally, Barclays cut 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 report on Wednesday, August 13th.

Bally's Price Performance

Shares of BALY opened at $11.20 on Wednesday. The business's 50-day moving average is $9.91 and its two-hundred day moving average is $11.29. The company has a market capitalization of $550.14 million, a P/E ratio of -0.96 and a beta of 1.86. Bally's has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.47 and a current ratio of 0.49.

Hedge Funds Weigh In On Bally's

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in Bally's during the second quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Bally's during the 2nd quarter worth approximately $38,000. BNP Paribas Financial Markets purchased a new position in shares of Bally's during the 4th quarter valued at approximately $58,000. Bank of America Corp DE grew its stake in 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 valued at $76,000 after acquiring an additional 7,579 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Bally's in the 2nd quarter valued at $97,000. Institutional investors and hedge funds 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.

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