Bally's (NYSE:BALY) Shares Up 7.8% - What's Next?

Key Points

• Bally's shares rose 7.8% intraday to $10.40 on Monday, though trading volume was light at 29,289 shares (down ~68% vs. the 90,569 average).
• Analyst sentiment is negative: several firms have cut price targets (e.g., Truist to $13, Stifel to $12), the consensus rating is "Reduce" with a $13.25 average target, and some analysts maintain Sell/Underweight calls.
• The company shows weak fundamentals, reporting a quarterly loss of $7.53 per share, a negative net margin (-26.39%) and ROE (-63.15%), a market cap of about $500M, and a debt-to-equity ratio of 1.75.

Bally's Corporation (NYSE:BALY - Get Free Report)'s stock price traded up 7.8% during mid-day trading on Monday . The company traded as high as $10.42 and last traded at $10.40. 29,289 shares were traded during trading, a decline of 68% from the average session volume of 90,569 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

BALY has been the subject of several recent research reports. Truist Financial cut their price objective on Bally's from $18.00 to $13.00 and set a "hold" rating for the company in a report on Friday, March 27th. Stifel Nicolaus lowered their price target 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. Barclays set a $11.00 target price on shares of Bally's and gave the company an "underweight" rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Bally's in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $13.25.

Bally's Stock Up 6.8%

The business's 50 day moving average is $13.31 and its 200-day moving average is $14.97. The firm has a market capitalization of $500.39 million, a price-to-earnings ratio of -1.90 and a beta of 1.55. 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 released its earnings results on Saturday, January 31st. The company reported ($7.53) 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 for the quarter. Equities analysts anticipate that Bally's Corporation will post -7.26 EPS for the current fiscal year.

Institutional Trading of Bally's

Hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey raised its stake in shares of 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 purchasing an additional 1,271 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Bally's during the second quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Bally's in the second quarter valued at approximately $38,000. MetLife Investment Management LLC acquired a new stake in Bally's in the fourth quarter worth $97,000. Finally, Bank of America Corp DE raised its holdings 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 purchasing an additional 7,579 shares during the period. Institutional investors own 70.41% of the company's stock.

Bally's Company Profile

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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