Bally's Corporation (NYSE:BALY) Receives $11.50 Consensus PT from Analysts

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.

Shares of Bally's Corporation (NYSE:BALY - Get Free Report) have been assigned an average recommendation of "Hold" from the five research firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Bally's from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Wall Street Zen raised shares of Bally's from a "sell" rating to a "hold" rating in a research note on Sunday. Truist Financial reduced their price objective on Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. 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 research report on Tuesday, August 12th. Finally, Macquarie lowered 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, August 12th.

Bally's Stock Down 0.4%

NYSE:BALY traded down $0.04 during trading hours on Tuesday, hitting $9.37. 25,226 shares of the company's stock traded hands, compared to its average volume of 49,946. The stock's fifty day moving average price is $9.92 and its two-hundred day moving average price is $12.65. The firm has a market cap of $460.25 million, a P/E ratio of -0.80 and a beta of 1.86. 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 twelve month low of $8.45 and a twelve month high of $23.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in Bally's in the 2nd quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bally's in the second quarter valued at about $38,000. BNP Paribas Financial Markets acquired a new stake in Bally's during the fourth quarter worth about $58,000. Bank of America Corp DE increased its stake in Bally's by 2,087.9% during the second 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 bought a new position in Bally's during the second quarter valued at about $97,000. 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.