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

Bally’s (NYSE:BALY) had its price objective hoisted by Truist Financial from $14.00 to $16.00 in a research report released on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company reissued an underweight rating and issued a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Macquarie downgraded shares of Bally’s from an outperform rating to a neutral rating and decreased their price target for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus decreased 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 research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $15.29.

Bally’s Stock Down 0.1 %

BALY opened at $13.98 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73. Bally’s has a 52-week low of $7.28 and a 52-week high of $17.83. The firm’s fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $11.82.

Bally’s (NYSE:BALY) last posted 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). The company had revenue of $611.67 million for the quarter, compared to analysts’ expectations of $626.62 million. Bally’s had a negative net margin of 7.05% and a negative return on equity of 17.92%. As a group, research analysts predict that Bally’s will post -3.76 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several hedge funds and other institutional investors have recently bought and sold shares of BALY. Tower Research Capital LLC TRC increased its position in Bally’s by 100.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after purchasing an additional 1,926 shares during the last quarter. Garde Capital Inc. increased its position in shares of Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock valued at $131,000 after acquiring an additional 2,000 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Bally’s by 35.6% during the third quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock valued at $149,000 after acquiring an additional 2,987 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Bally’s during the third quarter valued at about $206,000. Finally, Counterpoint Mutual Funds LLC increased its position in shares of Bally’s by 95.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 16,672 shares of the company’s stock valued at $219,000 after acquiring an additional 8,123 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.