Bally’s (NYSE:BALY) Trading Down 4.1%

Bally’s Co. (NYSE:BALY) fell 4.1% during mid-day trading on Friday . The company traded as low as $13.41 and last traded at $13.42. 73,224 shares were traded during trading, a decline of 85% from the average session volume of 481,243 shares. The stock had previously closed at $14.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Bally’s from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Truist Financial raised their target price on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company restated an “underweight” rating and set a $10.00 target price on shares of Bally’s in a report on Friday, January 5th. Finally, Macquarie cut Bally’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. One investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.29.

Bally’s Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73. The firm has a market cap of $560.44 million, a P/E ratio of -3.99 and a beta of 2.08. The company has a fifty day moving average price of $12.68 and a two-hundred day moving average price of $11.80.

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

Institutional Investors Weigh In On Bally’s

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Bally’s by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock worth $22,875,000 after purchasing an additional 93,681 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Bally’s during the 3rd quarter worth approximately $358,000. Rathbones Group PLC acquired a new position in shares of Bally’s during the 3rd quarter worth approximately $8,163,000. AQR Capital Management LLC increased its position in shares of Bally’s by 8.8% during the 3rd quarter. AQR Capital Management LLC now owns 334,440 shares of the company’s stock worth $4,385,000 after purchasing an additional 27,003 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Bally’s by 96.8% during the 3rd quarter. Strs Ohio now owns 24,600 shares of the company’s stock worth $322,000 after purchasing an additional 12,100 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

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.