Bally's (NYSE:BALY) Price Target Cut to $11.00 by Analysts at Barclays

Key Points

• Barclays has lowered its price target for Bally's stock from $13.00 to $11.00 while maintaining an "equal weight" rating, indicating a potential upside of 10.89% from its previous close.
• Other research firms, including Stifel Nicolaus and Wall Street Zen, have also downgraded Bally's stock, with the consensus rating now at "Hold" and a target price of $11.00.
• Bally's stock is currently trading at $9.92, with a one-year range between $8.45 and $23.20, reflecting significant volatility in its market performance.

Bally's (NYSE:BALY - Free Report) had its target price lowered by Barclays from $13.00 to $11.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on BALY. 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 report on Wednesday, July 16th. Macquarie lowered their target price on Bally's from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen cut Bally's from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus decreased their price objective on Bally's from $12.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Bally's has an average rating of "Hold" and a consensus price target of $11.00.

Bally's Trading Up 3.1%

BALY traded up $0.29 during trading on Wednesday, hitting $9.62. 17,670 shares of the stock were exchanged, compared to its average volume of 63,369. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.47 and a current ratio of 0.49. The firm has a market cap of $472.44 million, a price-to-earnings ratio of -0.82 and a beta of 1.86. The firm has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $12.65. Bally's has a 1 year low of $8.45 and a 1 year high of $23.20.

Institutional Investors Weigh In On Bally's

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Bally's in the 4th quarter worth approximately $58,000. JPMorgan Chase & Co. acquired a new position in shares of Bally's in the 2nd quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Bally's during the 2nd quarter valued at $38,000. Bank of America Corp DE lifted its holdings 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 valued at $76,000 after acquiring an additional 7,579 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Bally's during the 2nd quarter valued at $97,000. Institutional investors and hedge funds own 70.41% of the company's stock.

About Bally's

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.