Bally’s (NYSE:BALY) Given New $14.00 Price Target at Stifel Nicolaus

Bally’s (NYSE:BALY) had its target price hoisted by Stifel Nicolaus from $11.00 to $14.00 in a research report released on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

BALY has been the topic of a number of other reports. Truist Financial boosted their price objective on Bally’s from $14.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Wells Fargo & Company restated an underweight rating and issued a $10.00 price objective on shares of Bally’s in a research report on Friday, January 5th. Finally, Macquarie lowered Bally’s from an outperform rating to a neutral rating and lowered their price target for the company from $15.00 to $12.00 in a research 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 stock. According to MarketBeat.com, Bally’s presently has a consensus rating of Hold and a consensus price target of $15.71.

Bally’s Stock Up 0.2 %

Shares of BALY stock traded up $0.02 on Thursday, hitting $13.02. The stock had a trading volume of 361,389 shares, compared to its average volume of 464,282. Bally’s has a 12-month low of $7.28 and a 12-month high of $16.96. The stock has a market cap of $521.97 million, a price-to-earnings ratio of -1.26 and a beta of 2.06. The business has a 50 day moving average of $13.00 and a 200 day moving average of $11.93. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). Bally’s had a negative net margin of 21.26% and a negative return on equity of 32.28%. The business had revenue of $618.48 million for the quarter, compared to analysts’ expectations of $625.94 million. During the same period in the previous year, the business posted ($0.74) earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Bally’s will post -3.76 EPS for the current year.

Institutional Investors Weigh In On Bally’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Bally’s by 5.7% during 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 in the last quarter. Trexquant Investment LP bought a new stake in shares of Bally’s in the third quarter worth approximately $358,000. Rathbones Group PLC bought a new position in shares of Bally’s during the 3rd quarter valued at $8,163,000. AQR Capital Management LLC boosted its holdings in shares of Bally’s by 8.8% in the third 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. Finally, Strs Ohio grew its position in Bally’s by 96.8% during the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after buying an additional 12,100 shares during the period. 70.41% of the stock is owned by hedge funds and other institutional investors.

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.