Barclays Issues Pessimistic Forecast for Bally’s (NYSE:BALY) Stock Price

Bally’s (NYSE:BALY) had its price target decreased by Barclays from $18.00 to $14.00 in a report released on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, Stifel Nicolaus cut their price objective on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.13.

Bally’s Stock Down 3.3 %

BALY opened at $18.12 on Monday. The company has a 50 day moving average of $17.02 and a 200 day moving average of $17.35. The company has a market cap of $736.89 million, a PE ratio of -1.20 and a beta of 2.05. Bally’s has a 12 month low of $10.00 and a 12 month high of $18.98. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62.

Institutional Trading of Bally’s

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC raised its position in Bally’s by 39.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock worth $2,294,000 after purchasing an additional 37,876 shares during the period. Empowered Funds LLC increased its stake in shares of Bally’s by 5.3% during the third quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock valued at $2,742,000 after purchasing an additional 8,040 shares in the last quarter. Quest Partners LLC increased its stake in shares of Bally’s by 78.9% during the third quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after purchasing an additional 8,608 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Bally’s during the third quarter valued at approximately $26,665,000. Finally, Citigroup Inc. grew its holdings in shares of Bally’s by 8.8% during the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after buying an additional 35,901 shares during the last quarter. 70.41% of the stock is owned by institutional investors.

Bally’s Company Profile

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.