Bally’s (NYSE:BALY) Price Target Cut to $14.00 by Analysts at Barclays

Bally’s (NYSE:BALY) had its price target reduced by Barclays from $18.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Stifel Nicolaus cut their target price on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bally’s has an average rating of “Hold” and a consensus target price of $17.13.

Bally’s Stock Performance

Shares of BALY opened at $17.20 on Monday. The business has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $17.34. The stock has a market cap of $699.43 million, a price-to-earnings ratio of -1.14 and a beta of 2.05. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. Bally’s has a 52 week low of $10.00 and a 52 week high of $18.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BALY. Alpine Associates Management Inc. bought a new position in shares of Bally’s during the 3rd quarter worth $26,665,000. Balyasny Asset Management L.P. grew its stake in Bally’s by 88.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,057,332 shares of the company’s stock valued at $18,916,000 after purchasing an additional 496,933 shares during the last quarter. Nexpoint Asset Management L.P. lifted its position in Bally’s by 88.3% during the fourth quarter. Nexpoint Asset Management L.P. now owns 808,337 shares of the company’s stock valued at $14,461,000 after acquiring an additional 378,950 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Bally’s by 8.8% during the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after purchasing an additional 35,901 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Bally’s during the 3rd quarter worth $7,326,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.