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

Shares of Bally’s Co. (NYSE:BALY) have received a consensus recommendation of “Hold” from 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 issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.13.

Several research analysts have recently issued reports on BALY shares. Stifel Nicolaus decreased their target price on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Citizens Jmp upgraded Bally’s to a “hold” rating in a report on Tuesday, March 18th. Finally, Barclays dropped their target price 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.

Hedge Funds Weigh In On Bally’s

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Bally’s in the fourth quarter worth about $58,000. SG Americas Securities LLC increased its position in shares of Bally’s by 7.0% during the fourth 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 in the last quarter. Intech Investment Management LLC purchased a new position in Bally’s in the 4th quarter worth approximately $196,000. Two Sigma Advisers LP bought a new position in Bally’s in the 4th quarter valued at approximately $250,000. Finally, Wells Fargo & Company MN boosted its stake in Bally’s by 6.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock valued at $251,000 after purchasing an additional 860 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Bally’s Stock Performance

NYSE:BALY opened at $14.13 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The firm’s fifty day simple moving average is $15.35 and its 200 day simple moving average is $16.86. The stock has a market cap of $685.45 million, a P/E ratio of -0.94 and a beta of 2.02. Bally’s has a twelve month low of $10.00 and a twelve month high of $18.98.

Bally’s (NYSE:BALY) last announced 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 net margin of 30.04% and a negative return on equity of 79.10%. The firm had revenue of $580.37 million for the quarter, compared to analyst estimates of $589.83 million. As a group, research analysts predict that Bally’s will post -7.26 EPS for the current year.

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.