Bally’s (NYSE:BALY) Raised to “Hold” at Citizens Jmp

Bally’s (NYSE:BALY) was upgraded by investment analysts at Citizens Jmp to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on BALY. Stifel Nicolaus decreased their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Barclays cut their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.13.

Bally’s Stock Performance

Shares of BALY stock opened at $17.87 on Tuesday. The business’s 50-day moving average price is $16.96 and its 200-day moving average price is $17.36. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The firm has a market capitalization of $864.67 million, a price-to-earnings ratio of -1.19 and a beta of 2.14. Bally’s has a 12 month low of $10.00 and a 12 month high of $18.98.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Monday, March 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.34. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. The firm had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. Equities research analysts forecast that Bally’s will post -7.26 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BALY. Longfellow Investment Management Co. LLC bought a new position in Bally’s in the 3rd quarter worth about $38,000. Point72 DIFC Ltd bought a new stake in shares of Bally’s during the 3rd quarter valued at about $48,000. BNP Paribas Financial Markets bought a new stake in shares of Bally’s during the 4th quarter valued at about $58,000. SG Americas Securities LLC boosted its position in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after acquiring an additional 624 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Bally’s during the 4th quarter valued at about $196,000. Institutional investors own 70.41% of the company’s stock.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.