Bally’s Co. (NYSE:BALY) Given Average Recommendation of “Hold” by Brokerages

Shares of Bally’s Co. (NYSE:BALY) have been given a consensus rating of “Hold” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.13.

Several research analysts have commented on BALY shares. Stifel Nicolaus lowered their target price on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Barclays decreased their price target on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Finally, Citizens Jmp raised shares of Bally’s to a “hold” rating in a research note on Tuesday, March 18th.

Bally’s Stock Performance

Shares of Bally’s stock opened at $11.88 on Monday. 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 company has a market cap of $576.20 million, a PE ratio of -0.79 and a beta of 2.14. The company has a 50 day moving average of $16.61 and a 200-day moving average of $17.28. Bally’s has a 1-year low of $10.00 and a 1-year high of $18.98.

Bally’s (NYSE:BALY) last issued its earnings results on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $589.83 million. As a group, equities research analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

Several hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. increased its position in Bally’s by 88.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after acquiring an additional 496,933 shares during the period. Nexpoint Asset Management L.P. increased its holdings in Bally’s by 88.3% in the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after purchasing an additional 378,950 shares during the period. Citigroup Inc. raised its position in Bally’s by 8.8% during the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock worth $7,631,000 after purchasing an additional 35,901 shares during the last quarter. King Street Capital Management L.P. acquired a new position in Bally’s during the 3rd quarter worth about $6,784,000. Finally, Alliancebernstein L.P. grew its position in shares of Bally’s by 6.3% in the 4th quarter. Alliancebernstein L.P. now owns 379,812 shares of the company’s stock valued at $6,795,000 after buying an additional 22,573 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.