Bally's Co. (NYSE:BALY) Receives $15.29 Consensus Target Price from Analysts

Bally's Co. (NYSE:BALY - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.29.

Several brokerages have issued reports on BALY. Stifel Nicolaus dropped their target price on Bally's from $13.00 to $11.00 and set a "hold" rating for the company in a report on Thursday, February 22nd. Macquarie cut Bally's from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $15.00 to $12.00 in a report on Wednesday, January 17th. Truist Financial upped their target price on Bally's from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $10.00 target price on shares of Bally's in a report on Friday, January 5th.

Bally's Price Performance

NYSE BALY traded up $0.01 during mid-day trading on Thursday, hitting $14.00. The stock had a trading volume of 366,221 shares, compared to its average volume of 486,665. The firm's 50 day moving average is $12.68 and its 200 day moving average is $11.80. Bally's has a twelve month low of $7.28 and a twelve month high of $17.83. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $561.26 million, a price-to-earnings ratio of -4.00 and a beta of 2.08.

Bally's (NYSE:BALY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.31). The firm had revenue of $611.67 million during the quarter, compared to analyst estimates of $626.62 million. Bally's had a negative net margin of 7.05% and a negative return on equity of 17.92%. Equities research analysts forecast that Bally's will post -3.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally's

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HG Vora Capital Management LLC raised its position in shares of Bally's by 11.1% during the 3rd quarter. HG Vora Capital Management LLC now owns 2,500,000 shares of the company's stock worth $32,775,000 after acquiring an additional 250,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Bally's by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company's stock worth $22,875,000 after buying an additional 93,681 shares during the last quarter. TFG Asset Management GP Ltd grew its stake in Bally's by 36.4% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company's stock worth $20,910,000 after buying an additional 400,000 shares during the last quarter. Rathbones Group PLC purchased a new position in Bally's during the 3rd quarter worth approximately $8,163,000. Finally, AQR Capital Management LLC grew its stake in Bally's by 8.8% during the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company's stock worth $4,385,000 after buying an additional 27,003 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company's stock.

Bally's Company Profile

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.