Bally's (NYSE:BALY) Shares Up 7.1% - Still a Buy?

Key Points

• 7.1% surge to $12.74 on Friday came on very light volume (~6,867 shares vs. a 83,079 average), with the stock trading below its 200‑day SMA ($14.92) but near the 50‑day SMA ($12.29).
• Analyst sentiment is weak: the consensus rating is “Reduce” with a $13.25 price target after several firms trimmed targets to the $12–$13 range and issued Hold/Sell views.
• Underlying fundamentals remain poor — market cap ~ $606M, quarterly EPS -$7.53 and a sell‑side forecast of -6.3 EPS for the year, negative margins/ROE, and a debt‑to‑equity ratio of 1.75.

Bally's Corporation (NYSE:BALY - Get Free Report) shot up 7.1% on Friday . The company traded as high as $12.65 and last traded at $12.7360. Approximately 6,867 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 83,079 shares. The stock had previously closed at $11.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BALY shares. Stifel Nicolaus reduced their target price on Bally's from $18.00 to $12.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Wall Street Zen lowered shares of Bally's from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Truist Financial decreased their price target on shares of Bally's from $18.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Bally's in a report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $13.25.

Bally's Price Performance

The firm has a market capitalization of $606.33 million, a PE ratio of -2.28 and a beta of 1.55. The stock's 50 day simple moving average is $12.29 and its two-hundred day simple moving average is $14.92. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.77 and a current ratio of 0.80.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings results on Saturday, January 31st. The company reported ($7.53) earnings per share (EPS) for the quarter. Bally's had a negative net margin of 26.39% and a negative return on equity of 63.15%. The company had revenue of $746.25 million during the quarter. On average, sell-side analysts forecast that Bally's Corporation will post -6.3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Bally's in the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bally's during the 2nd quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in Bally's by 96.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company's stock valued at $43,000 after acquiring an additional 1,271 shares during the last quarter. Bank of America Corp DE grew its position in 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 acquiring an additional 7,579 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Bally's during the second quarter worth $97,000. Hedge funds and other institutional investors own 70.41% of the company's stock.

About Bally's

Bally's Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally's brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company's portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.

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