Bally's (NYSE:BALY) Rating Increased 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.

Bally's (NYSE:BALY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Other equities analysts have also recently issued reports about the stock. Truist Financial cut their target price on shares of Bally's from $15.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Macquarie cut their target price on shares of Bally's from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, August 12th. Stifel Nicolaus cut their target price on shares of Bally's from $12.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. Finally, Barclays cut their target price on shares of 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. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.00.

Bally's Price Performance

NYSE BALY opened at $9.23 on Friday. 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 company has a fifty day simple moving average of $9.92 and a 200 day simple moving average of $11.94. The company has a market cap of $453.60 million, a P/E ratio of -0.79 and a beta of 1.86. Bally's has a 1 year low of $8.45 and a 1 year high of $23.20.

Hedge Funds Weigh In On Bally's

A number of hedge funds have recently made changes to their positions in BALY. Northern Trust Corp raised its stake in shares of Bally's by 4.4% in the 4th quarter. Northern Trust Corp now owns 214,536 shares of the company's stock valued at $3,838,000 after buying an additional 9,066 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Bally's in the 4th quarter valued at $58,000. Bank of America Corp DE raised its stake in shares of Bally's by 17.2% in the 4th quarter. Bank of America Corp DE now owns 30,932 shares of the company's stock valued at $553,000 after buying an additional 4,533 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Bally's by 49.1% in the 4th quarter. Deutsche Bank AG now owns 22,715 shares of the company's stock valued at $406,000 after buying an additional 7,485 shares in the last quarter. Finally, K2 Principal Fund L.P. acquired a new position in shares of Bally's in the 4th quarter valued at $1,262,000. Institutional investors and hedge funds 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.

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