Stifel Nicolaus Cuts Bally’s (NYSE:BALY) Price Target to $12.00

Bally’s (NYSE:BALY) had its price objective decreased by research analysts at Stifel Nicolaus from $18.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 28.23% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial cut their price target on shares of Bally’s from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bally’s in a research report on Tuesday, January 27th. Finally, Barclays set a $11.00 target price on Bally’s and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bally’s currently has a consensus rating of “Reduce” and an average price target of $13.25.

Bally’s Stock Down 11.1%

NYSE:BALY traded down $1.17 during trading hours on Monday, reaching $9.36. 46,535 shares of the company traded hands, compared to its average volume of 90,098. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. The business’s 50-day moving average price is $13.99 and its two-hundred day moving average price is $14.98. Bally’s has a 1 year low of $8.45 and a 1 year high of $20.74. The stock has a market capitalization of $454.19 million, a P/E ratio of -1.92 and a beta of 1.45.

Bally’s (NYSE:BALY) last released its earnings results on Saturday, January 31st. The company reported ($7.53) EPS for the quarter. The company had revenue of $746.25 million during the quarter. Bally’s had a negative return on equity of 63.15% and a negative net margin of 26.39%. Analysts predict that Bally’s will post -7.26 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in BALY. Rhumbline Advisers raised its stake in Bally’s by 9.9% during the 3rd quarter. Rhumbline Advisers now owns 10,160 shares of the company’s stock valued at $113,000 after buying an additional 916 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Bally’s by 96.1% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the company’s stock worth $43,000 after buying an additional 1,271 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Bally’s in the second quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Bally’s during the second quarter valued at $38,000. Finally, Barclays PLC increased its position in Bally’s by 43.1% during the fourth quarter. Barclays PLC now owns 15,077 shares of the company’s stock valued at $249,000 after acquiring an additional 4,540 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

Bally’s Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally’s brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company’s portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.