Bally’s (NYSE:BALY) PT Raised to $70.00


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Bally’s (NYSE:BALY) had its target price upped by research analysts at KeyCorp from $65.00 to $70.00 in a report released on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 12.89% from the stock’s current price.

A number of other research firms have also commented on BALY. Macquarie raised their price objective on Bally’s from $52.00 to $61.00 in a research note on Tuesday, January 12th. Stifel Nicolaus raised their price objective on Bally’s from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, March 25th. TheStreet lowered Bally’s from a “c” rating to a “d+” rating in a research note on Thursday, March 4th. Truist raised their price objective on Bally’s from $65.00 to $80.00 in a research note on Wednesday, February 24th. Finally, Zacks Investment Research upgraded Bally’s from a “sell” rating to a “hold” rating in a research note on Thursday, February 11th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $71.50.

NYSE:BALY opened at $62.01 on Thursday. The firm has a market cap of $1.92 billion, a PE ratio of -144.21 and a beta of 2.73. The business’s 50 day moving average price is $65.13. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.94 and a current ratio of 2.03. Bally’s has a 1-year low of $10.70 and a 1-year high of $75.92.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, March 3rd. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.60. Bally’s had a negative return on equity of 1.12% and a negative net margin of 3.21%. The firm had revenue of $118.10 million for the quarter, compared to analyst estimates of $123.43 million. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities research analysts predict that Bally’s will post -0.49 earnings per share for the current fiscal year.

In other Bally’s news, EVP Marc A. Crisafulli sold 10,000 shares of the company’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $74.58, for a total value of $745,800.00. Following the completion of the transaction, the executive vice president now owns 23,267 shares of the company’s stock, valued at approximately $1,735,252.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director General L.P. Standard sold 220,304 shares of the company’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $54.50, for a total value of $12,006,568.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 286,777 shares of company stock worth $16,703,543. Corporate insiders own 40.34% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Standard General L.P. acquired a new position in Bally’s in the 4th quarter worth about $576,212,000. BlackRock Inc. acquired a new position in Bally’s in the 4th quarter worth about $62,760,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Bally’s in the 4th quarter worth about $20,815,000. Solus Alternative Asset Management LP acquired a new position in Bally’s in the 4th quarter worth about $17,816,000. Finally, Nuveen Asset Management LLC acquired a new position in Bally’s in the 4th quarter worth about $11,294,000.

Bally’s Company Profile

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

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