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

Bally's (NYSE:BALY - Free Report) had its price target cut by Truist Financial from $15.00 to $11.00 in a report released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also commented on BALY. Barclays decreased their target price on Bally's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Citizens Jmp upgraded Bally's to a "hold" rating in a research note on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Bally's presently has a consensus rating of "Hold" and an average price target of $15.75.

Bally's Trading Up 0.2%

BALY stock traded up $0.02 during mid-day trading on Wednesday, reaching $9.99. The company's stock had a trading volume of 81,021 shares, compared to its average volume of 65,848. Bally's has a 12 month low of $8.45 and a 12 month high of $23.20. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 4.24. The business's 50 day moving average price is $10.28 and its 200 day moving average price is $14.01. The company has a market cap of $489.56 million, a price-to-earnings ratio of -0.85 and a beta of 1.82.

Hedge Funds Weigh In On Bally's

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. raised its holdings in shares of Bally's by 88.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company's stock valued at $18,916,000 after buying an additional 496,933 shares in the last quarter. Nexpoint Asset Management L.P. grew its position in Bally's by 88.3% during the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company's stock valued at $14,461,000 after acquiring an additional 378,950 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Bally's by 6.3% during the fourth quarter. Alliancebernstein L.P. now owns 379,812 shares of the company's stock worth $6,795,000 after acquiring an additional 22,573 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Bally's by 7.5% in the 4th quarter. Gabelli Funds LLC now owns 369,934 shares of the company's stock worth $6,618,000 after acquiring an additional 25,786 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Bally's by 1.4% in the 4th quarter. Hsbc Holdings PLC now owns 363,344 shares of the company's stock valued at $6,507,000 after purchasing an additional 5,147 shares in the last quarter. Hedge funds and other institutional investors 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.