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Barclays Issues Pessimistic Forecast for Bally's (NYSE:BALY) Stock Price

Bally's logo with Consumer Discretionary background

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.
  • Need better tools to track Bally's? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Bally's (NYSE:BALY - Get Free Report) had its price target cut by investment analysts at Barclays from $13.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 10.89% from the company's previous close.

A number of other research firms have also recently commented on BALY. Wall Street Zen cut Bally's from a "hold" rating to a "sell" rating in a report on Saturday. 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. Macquarie cut their target price on Bally's from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Truist Financial cut their target price on Bally's from $15.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.00.

Read Our Latest Analysis on BALY

Bally's Trading Down 0.3%

BALY opened at $9.92 on Wednesday. Bally's has a one year low of $8.45 and a one year high of $23.20. The stock has a market capitalization of $486.18 million, a PE ratio of -0.85 and a beta of 1.86. The business's 50 day moving average price is $9.91 and its 200 day moving average price is $12.87. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.72 and a current ratio of 0.75.

Hedge Funds Weigh In On Bally's

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in Bally's in the second quarter valued at $33,000. BNP Paribas Financial Markets acquired a new position in Bally's in the fourth quarter valued at $58,000. Wolverine Asset Management LLC boosted its stake in Bally's by 35.8% in the second quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company's stock valued at $158,000 after acquiring an additional 4,345 shares in the last quarter. Spirepoint Private Client LLC acquired a new position in Bally's in the first quarter valued at $246,000. Finally, Two Sigma Advisers LP acquired a new position in Bally's in the fourth quarter valued at $250,000. Hedge funds and other institutional investors own 70.41% of the company's stock.

Bally's Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Bally's (NYSE:BALY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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