Stifel Nicolaus Has Lowered Expectations for Bally’s (NYSE:BALY) Stock Price

Bally’s (NYSE:BALY) had its price objective reduced by Stifel Nicolaus from $17.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 8.49% from the stock’s current price.

Bally’s Price Performance

BALY traded down $0.09 during trading on Thursday, hitting $12.91. 3,837 shares of the stock traded hands, compared to its average volume of 402,132. The business has a 50 day moving average price of $17.23 and a 200 day moving average price of $17.40. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. Bally’s has a twelve month low of $9.80 and a twelve month high of $18.38. The company has a market cap of $524.81 million, a price-to-earnings ratio of -0.86 and a beta of 2.05.

Institutional Trading of Bally’s

Several large investors have recently bought and sold shares of the business. Longfellow Investment Management Co. LLC bought a new position in shares of Bally’s in the third quarter worth about $38,000. Point72 DIFC Ltd bought a new position in Bally’s in the 3rd quarter valued at approximately $48,000. BNP Paribas Financial Markets acquired a new stake in Bally’s in the fourth quarter valued at approximately $58,000. SG Americas Securities LLC grew its stake 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 worth $170,000 after buying an additional 624 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Bally’s during the fourth quarter worth $196,000. 70.41% of the stock is owned by institutional investors and hedge funds.

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.