Bally’s (NYSE:BALY) Reaches New 1-Year High at $17.73

Shares of Bally’s Co. (NYSE:BALY) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.73 and last traded at $17.45, with a volume of 252487 shares traded. The stock had previously closed at $17.31.

Wall Street Analysts Forecast Growth

BALY has been the subject of several research reports. JMP Securities restated a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Barclays raised their price objective on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen reiterated a “hold” rating and issued a $18.25 price target (up from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Truist Financial reiterated a “hold” rating and issued a $18.25 price target (up from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bally’s has a consensus rating of “Hold” and an average target price of $17.14.

Bally’s Trading Down 0.3 %

The business’s 50 day moving average is $16.43 and its 200-day moving average is $13.99. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Bally’s (NYSE:BALY) last posted its earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.23. Bally’s had a negative net margin of 22.52% and a negative return on equity of 51.13%. The firm had revenue of $621.66 million for the quarter, compared to analysts’ expectations of $641.17 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Bally’s Co. will post -5.2 EPS for the current fiscal year.

Institutional Trading of Bally’s

Institutional investors have recently modified their holdings of the business. Quest Partners LLC acquired a new position in Bally’s in the second quarter valued at $131,000. Garde Capital Inc. lifted its holdings in Bally’s by 50.0% in the fourth quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after buying an additional 5,000 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in Bally’s in the second quarter valued at $217,000. Price T Rowe Associates Inc. MD lifted its holdings in Bally’s by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock valued at $281,000 after buying an additional 1,394 shares during the period. Finally, PEAK6 Investments LLC lifted its holdings in Bally’s by 20.2% in the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock valued at $369,000 after buying an additional 4,446 shares during the period. 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.