Bally’s’ (BALY) Hold Rating Reiterated at TD Cowen

Bally’s (NYSE:BALY)‘s stock had its “hold” rating restated by stock analysts at TD Cowen in a report released on Friday, Benzinga reports. They presently have a $18.25 target price on the stock, up from their previous target price of $15.00. TD Cowen’s price objective points to a potential upside of 7.54% from the stock’s previous close.

BALY has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on shares of Bally’s from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price objective on shares of Bally’s from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Monday, July 15th. Truist Financial restated a “hold” rating and issued a $18.25 price target (up from $16.00) on shares of Bally’s in a research report on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Bally’s in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.92.

Bally’s Stock Performance

Shares of Bally’s stock traded up $0.06 during trading on Friday, hitting $16.97. 1,770,229 shares of the stock were exchanged, compared to its average volume of 463,688. The stock has a market capitalization of $687.12 million, a price-to-earnings ratio of -1.64 and a beta of 2.11. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 8.14. The company has a fifty day moving average price of $12.38 and a 200-day moving average price of $12.31. Bally’s has a 1-year low of $7.28 and a 1-year high of $16.99.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($3.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). The business had revenue of $618.48 million during the quarter, compared to the consensus estimate of $625.94 million. Bally’s had a negative net margin of 21.26% and a negative return on equity of 36.63%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.74) EPS. As a group, equities analysts predict that Bally’s will post -8.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TFG Asset Management GP Ltd boosted its holdings in Bally’s by 36.4% in the 4th quarter. TFG Asset Management GP Ltd now owns 1,500,000 shares of the company’s stock valued at $20,910,000 after purchasing an additional 400,000 shares during the period. Napatree Capital LLC purchased a new position in Bally’s in the 4th quarter worth $2,684,000. Vanguard Group Inc. raised its position in Bally’s by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after purchasing an additional 93,681 shares during the period. Whitebox Advisors LLC purchased a new position in Bally’s in the 1st quarter worth $1,152,000. Finally, CastleKnight Management LP raised its position in Bally’s by 97.8% in the 4th quarter. CastleKnight Management LP now owns 138,964 shares of the company’s stock worth $1,937,000 after purchasing an additional 68,700 shares during the period. 70.41% of the stock is owned by 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.