Bally's (NYSE:BALY) Given New $10.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has reduced its price target for Bally's (NYSE:BALY) from $12.00 to $10.00, indicating a potential downside of 0.10% from the current stock price.
• Multiple analysts have issued ratings on Bally's, with Wall Street Zen downgrading it from a "hold" to a "sell", while the average stock rating is currently "Hold" with a consensus target price of $11.33.
• Bally's stock experienced a 4.3% increase recently, with significant institutional investments noted, including Regatta Capital Group purchasing a new stake valued at approximately $780,000.

Bally's (NYSE:BALY - Get Free Report) had its price objective lowered by stock analysts at Stifel Nicolaus from $12.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 6.72% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Bally's from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Barclays decreased their price objective on Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Finally, Truist Financial lowered their target price on shares of 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 analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Bally's Trading Down 0.4%

BALY traded down $0.04 during trading on Tuesday, reaching $9.37. The company had a trading volume of 25,226 shares, compared to its average volume of 51,141. Bally's has a 52 week low of $8.45 and a 52 week high of $23.20. The stock has a market cap of $460.25 million, a P/E ratio of -0.80 and a beta of 1.86. The business has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $12.73. The company has a quick ratio of 0.72, a current ratio of 0.49 and a debt-to-equity ratio of 5.54.

Hedge Funds Weigh In On Bally's

A number of institutional investors and hedge funds have recently bought and sold shares of BALY. JPMorgan Chase & Co. acquired a new stake in Bally's in the second quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bally's during the 2nd quarter worth about $38,000. BNP Paribas Financial Markets purchased a new stake in shares of Bally's during the 4th quarter worth about $58,000. Bank of America Corp DE raised its stake in shares of Bally's by 2,087.9% in 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 bought a new position in Bally's in the 2nd quarter worth approximately $97,000. Hedge funds and other institutional investors own 70.41% of the company's stock.

Bally's Company Profile

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.