Bally’s’ (BALY) “Hold” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Bally’s (NYSE:BALY) in a research report released on Friday morning, Benzinga reports. Truist Financial currently has a $18.25 price objective on the stock, up from their prior price objective of $16.00.

Several other analysts have also recently commented on the company. Stifel Nicolaus raised their target price on 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 raised their target price on Bally’s from $9.00 to $11.00 and gave the stock an underweight rating in a research report on Monday, July 15th. Finally, JMP Securities reiterated a market perform rating on shares of Bally’s in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Bally’s currently has an average rating of Hold and a consensus price target of $15.13.

Bally’s Stock Performance

Shares of Bally’s stock opened at $17.20 on Friday. The stock has a market cap of $696.34 million, a PE ratio of -1.66 and a beta of 2.11. The business has a fifty day simple moving average of $12.54 and a 200-day simple moving average of $12.40. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 8.14. Bally’s has a 12 month low of $7.28 and a 12 month high of $17.30.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing the consensus estimate of ($1.13) by ($2.48). The business had revenue of $618.48 million during the quarter, compared to analyst estimates of $625.94 million. Bally’s had a negative return on equity of 36.63% and a negative net margin of 21.26%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned ($0.74) EPS. On average, sell-side analysts anticipate that Bally’s will post -8.07 EPS for the current fiscal year.

Institutional Trading of Bally’s

Several hedge funds and other institutional investors have recently modified their holdings of BALY. Bank of New York Mellon Corp raised its holdings in Bally’s by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after buying an additional 1,064 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Bally’s by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock valued at $281,000 after buying an additional 1,394 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Bally’s by 100.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock valued at $54,000 after buying an additional 1,926 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after buying an additional 4,446 shares in the last quarter. Finally, Garde Capital Inc. raised its holdings in Bally’s by 50.0% during the fourth quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after buying an additional 5,000 shares in the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

About Bally’s

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.