Bally's (NYSE:BALY) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Bally's stock received a sell (E+) rating from Weiss Ratings, with several other analysts also downgrading their price targets.
• The stock traded up 3.9% to $14.03, but it still faces mixed investor sentiment with an average target price of $11.00.
• Institutional investors own 70.41% of Bally's stock, with significant recent investments from hedge funds like Bank of America and JPMorgan Chase.

Bally's (NYSE:BALY - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently weighed in on the stock. Truist Financial dropped their price target on shares of Bally's from $15.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Stifel Nicolaus dropped their price target on shares of Bally's from $12.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, August 12th. Macquarie dropped their price target 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. Wall Street Zen raised shares of Bally's from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Finally, Barclays dropped their price target on shares of Bally's from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $11.00.

Bally's Stock Up 3.9%

NYSE:BALY traded up $0.53 during trading hours on Wednesday, hitting $14.03. 107,106 shares of the stock traded hands, compared to its average volume of 80,894. The firm has a 50 day moving average price of $10.21 and a 200 day moving average price of $11.12. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 5.54. Bally's has a fifty-two week low of $8.45 and a fifty-two week high of $23.20. The firm has a market cap of $689.15 million, a price-to-earnings ratio of -1.20 and a beta of 1.96.

Hedge Funds Weigh In On Bally's

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in Bally's during the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Bally's during the second quarter valued at about $38,000. Bank of America Corp DE boosted its holdings 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. New York State Common Retirement Fund bought a new stake in Bally's during the second quarter valued at about $97,000. Finally, Wolverine Asset Management LLC boosted its holdings in 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 during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

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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