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

Bally's Corporation (NYSE:BALY - Get Free Report) has been given an average rating of "Reduce" by the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.50.

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. Truist Financial raised their price target on Bally's from $11.00 to $13.00 and gave the company a "hold" rating in a research report on Tuesday. Stifel Nicolaus lowered their price target 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. Weiss Ratings restated a "sell (e+)" rating on shares of Bally's in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Bally's from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th.

Bally's Price Performance

Bally's stock opened at $19.06 on Friday. The firm has a market capitalization of $936.28 million, a P/E ratio of -3.69 and a beta of 1.96. Bally's has a one year low of $8.45 and a one year high of $23.20. The business has a fifty day moving average price of $11.51 and a 200-day moving average price of $11.26. The company has a debt-to-equity ratio of 5.54, a current ratio of 0.49 and a quick ratio of 0.47.

Institutional Investors Weigh In On Bally's

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Bally's during the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bally's in the second quarter worth about $38,000. Bank of America Corp DE increased its holdings in shares of Bally's by 2,087.9% in the second quarter. Bank of America Corp DE now owns 7,942 shares of the company's stock worth $76,000 after buying an additional 7,579 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Bally's in the second quarter worth about $97,000. Finally, Wolverine Asset Management LLC increased its holdings in shares of Bally's by 35.8% in the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company's stock worth $158,000 after buying an additional 4,345 shares during the period. Hedge funds and other 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.

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