Bally’s (NYSE:BALY) Given New $16.00 Price Target at Truist Financial

Bally’s (NYSE:BALY) had its price target increased by Truist Financial from $14.00 to $16.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Macquarie cut shares of Bally’s from an outperform rating to a neutral rating and lowered their price target for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. Wells Fargo & Company reaffirmed an underweight rating and set a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Finally, Stifel Nicolaus lowered their price target on shares of Bally’s from $13.00 to $11.00 and set a hold rating on the stock in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Bally’s currently has an average rating of Hold and a consensus target price of $15.29.

Bally’s Price Performance

Shares of BALY opened at $13.98 on Tuesday. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64. The company’s fifty day moving average is $12.74 and its two-hundred day moving average is $11.82. Bally’s has a 1 year low of $7.28 and a 1 year high of $17.83.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.31). Bally’s had a negative net margin of 7.05% and a negative return on equity of 17.92%. The firm had revenue of $611.67 million during the quarter, compared to analyst estimates of $626.62 million. On average, analysts forecast that Bally’s will post -3.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of Bally’s by 100.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after buying an additional 1,926 shares in the last quarter. Garde Capital Inc. lifted its holdings in Bally’s by 25.0% in the 3rd quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock valued at $131,000 after purchasing an additional 2,000 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Bally’s by 35.6% in the 3rd quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after purchasing an additional 2,987 shares in the last quarter. Shell Asset Management Co. purchased a new position in Bally’s in the 3rd quarter valued at about $206,000. Finally, Counterpoint Mutual Funds LLC lifted its holdings in Bally’s by 95.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 16,672 shares of the company’s stock valued at $219,000 after purchasing an additional 8,123 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.