Bally's Corporation (NYSE:BALY) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Bally's Corporation has received a consensus recommendation of "Hold" from five brokerages, with an average price target of $11.50 for the next twelve months.
• Recent actions by research firms include downgrading Bally's stock from "Hold" to "Sell" and decreasing price targets, with some reported as low as $10.00.
• Approximately 70.41% of Bally's stock is owned by institutional investors, indicating significant institutional interest despite the mixed recommendations.

Bally's Corporation (NYSE:BALY - Get Free Report) has earned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.50.

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

Hedge Funds Weigh In On Bally's

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Bally's by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company's stock worth $251,000 after purchasing an additional 860 shares during the period. Invesco Ltd. lifted its position in shares of Bally's by 2.3% in the 4th quarter. Invesco Ltd. now owns 141,584 shares of the company's stock worth $2,533,000 after purchasing an additional 3,125 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Bally's in the 4th quarter worth approximately $58,000. JPMorgan Chase & Co. purchased a new stake in shares of Bally's in the 2nd quarter worth approximately $33,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Bally's by 35.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company's stock worth $158,000 after purchasing an additional 4,345 shares during the period. 70.41% of the stock is currently owned by institutional investors.

Bally's Trading Down 0.5%

Shares of NYSE BALY traded down $0.05 during trading hours on Tuesday, hitting $9.91. The company's stock had a trading volume of 133,774 shares, compared to its average volume of 63,921. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a market cap of $485.44 million, a price-to-earnings 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. The business has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $12.89.

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.

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