Stifel Nicolaus Raises Bally's (NYSE:BALY) Price Target to $14.00

Bally's (NYSE:BALY - Get Free Report) had its target price raised by stock analysts at Stifel Nicolaus from $11.00 to $14.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 7.69% from the company's previous close.

Several other brokerages also recently weighed in on BALY. Wells Fargo & Company reiterated an "underweight" rating and issued a $10.00 price target on shares of Bally's in a report on Friday, January 5th. Truist Financial boosted their price target on Bally's from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Finally, Macquarie downgraded Bally's from an "outperform" rating to a "neutral" rating and cut their price target for the company from $15.00 to $12.00 in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $15.71.

Bally's Price Performance

Shares of Bally's stock traded down $0.16 during trading on Thursday, hitting $13.00. 706,451 shares of the company were exchanged, compared to its average volume of 487,297. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73. Bally's has a fifty-two week low of $7.28 and a fifty-two week high of $17.83. The stock has a market capitalization of $521.17 million, a price-to-earnings ratio of -3.71 and a beta of 2.06. The firm has a 50 day moving average price of $12.90 and a 200 day moving average price of $11.90.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.31). The company had revenue of $611.67 million for the quarter, compared to analyst estimates of $626.62 million. Bally's had a negative return on equity of 17.92% and a negative net margin of 7.05%. On average, equities analysts expect that Bally's will post -3.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bally's

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Bally's by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company's stock valued at $22,875,000 after buying an additional 93,681 shares during the last quarter. Trexquant Investment LP purchased a new position in Bally's in the 3rd quarter valued at about $358,000. Rathbones Group PLC acquired a new stake in shares of Bally's in the 3rd quarter valued at about $8,163,000. AQR Capital Management LLC raised its stake in shares of Bally's by 8.8% in the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company's stock valued at $4,385,000 after purchasing an additional 27,003 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of Bally's by 96.8% in the 3rd quarter. Strs Ohio now owns 24,600 shares of the company's stock valued at $322,000 after purchasing an additional 12,100 shares in the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

About Bally's

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.