Barclays Lowers Bally’s (NYSE:BALY) Price Target to $14.00

Bally’s (NYSE:BALY) had its price target decreased by analysts at Barclays from $18.00 to $14.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 14.71% from the stock’s current price.

Separately, Stifel Nicolaus reduced their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Bally’s presently has an average rating of “Hold” and an average price target of $16.63.

Bally’s Trading Down 2.6 %

NYSE BALY opened at $12.21 on Monday. The company has a market cap of $496.34 million, a price-to-earnings ratio of -0.81 and a beta of 2.05. Bally’s has a twelve month low of $10.00 and a twelve month high of $18.38. 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 business’s fifty day moving average is $17.02 and its 200 day moving average is $17.34.

Hedge Funds Weigh In On Bally’s

A number of hedge funds and other institutional investors have recently made changes to their positions in BALY. Longfellow Investment Management Co. LLC acquired a new stake in Bally’s during the 3rd quarter valued at approximately $38,000. Point72 DIFC Ltd bought a new stake in shares of Bally’s in the 3rd quarter valued at $48,000. BNP Paribas Financial Markets acquired a new stake in shares of Bally’s during the fourth quarter worth $58,000. SG Americas Securities LLC raised its stake in 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 Bally’s in the fourth quarter valued at $196,000. 70.41% of the stock is 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.