Bally's (NYSE:BALY) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Bally’s from “sell” to “hold,” but the broader analyst consensus remains “Reduce,” with a consensus price target of $13.25.
• Bally’s shares were trading at $13.90, up 3.1%, while the company’s latest quarterly results showed a significant EPS miss: a loss of $2.41 per share versus the expected loss of $1.08.
• Institutional investors own 70.41% of Bally’s stock, with several major firms—including Goldman Sachs, Barclays and Wells Fargo—recently increasing their positions.

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

Several other research firms have also recently weighed in on BALY. Stifel Nicolaus increased their price objective on Bally's from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Tuesday, May 26th. Barclays decreased their price target on shares of Bally's from $9.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 20th. Truist Financial raised their price target on shares of Bally's from $13.00 to $15.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut shares of Bally's from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bally's currently has a consensus rating of "Reduce" and a consensus target price of $13.25.

Bally's Trading Up 3.1%

Shares of BALY stock opened at $13.90 on Friday. The firm has a 50 day moving average price of $13.93 and a two-hundred day moving average price of $13.23. The company has a quick ratio of 1.05, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $680.65 million, a PE ratio of -1.71 and a beta of 1.81. Bally's has a 12-month low of $8.79 and a 12-month high of $20.74.

Bally's (NYSE:BALY - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($2.41) EPS for the quarter, missing the consensus estimate of ($1.08) by ($1.33). The firm had revenue of $792.23 million during the quarter, compared to analyst estimates of $789.89 million. Bally's had a negative net margin of 29.98% and a negative return on equity of 56.76%. As a group, analysts predict that Bally's will post -9.36 earnings per share for the current year.

Institutional Trading of Bally's

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Bally's by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,442 shares of the company's stock worth $1,015,000 after purchasing an additional 5,306 shares during the period. Goldman Sachs Group Inc. increased its holdings in Bally's by 16.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 54,858 shares of the company's stock valued at $906,000 after buying an additional 7,845 shares during the period. Barclays PLC increased its holdings in Bally's by 43.1% in the 4th quarter. Barclays PLC now owns 15,077 shares of the company's stock valued at $249,000 after buying an additional 4,540 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Bally's in the 4th quarter valued at approximately $178,000. Finally, Wells Fargo & Company MN raised its position in shares of Bally's by 133.9% in the 4th quarter. Wells Fargo & Company MN now owns 10,540 shares of the company's stock valued at $174,000 after buying an additional 6,034 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

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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