Bally's (NYSE:BALY) Raised to "Hold" at Wall Street Zen

Key Points

• Bally's Corp. received an upgrade in its rating from "sell" to "hold" by Wall Street Zen, reflecting a more favorable outlook from analysts.
• Several investment firms have recent target price adjustments for Bally's, with Truist Financial lowering its estimate from $15.00 to $11.00.
• Institutional investors and hedge funds now own approximately 70.41% of Bally's stock, indicating strong institutional confidence in the company's potential.

Wall Street Zen upgraded shares of Bally's (NYSE:BALY - Free Report) from a sell rating to a hold rating in a research note released on Sunday.

A number of other analysts have also recently commented on the company. Truist Financial lowered 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 lowered their price target 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. 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. Finally, Stifel Nicolaus lowered 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, August 12th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $11.00.

Bally's Trading Up 0.7%

Shares of BALY stock traded up $0.07 on Friday, reaching $9.99. The company had a trading volume of 30,350 shares, compared to its average volume of 41,005. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 5.54. The stock has a market cap of $490.46 million, a PE ratio of -0.85 and a beta of 1.86. The company has a 50-day moving average of $9.86 and a 200-day moving average of $11.79. Bally's has a 12 month low of $8.45 and a 12 month high of $23.20.

Hedge Funds Weigh In On Bally's

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of Bally's during the 4th quarter worth approximately $58,000. JPMorgan Chase & Co. bought a new position in shares of Bally's during the 2nd quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bally's during the 2nd quarter worth approximately $38,000. Bank of America Corp DE grew its stake in shares of Bally's by 2,087.9% during the 2nd quarter. Bank of America Corp DE now owns 7,942 shares of the company's stock worth $76,000 after acquiring an additional 7,579 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Bally's in the 2nd quarter valued at approximately $97,000. 70.41% of the stock is owned by institutional investors.

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.