Brokerages Set Bally’s Co. (NYSE:BALY) PT at $18.00

Bally’s Co. (NYSE:BALY) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.29.

Separately, Stifel Nicolaus dropped their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday.

Institutional Trading of Bally’s

Hedge funds and other institutional investors have recently modified their holdings of the business. Olympiad Research LP lifted its holdings in shares of Bally’s by 545.9% in the 3rd quarter. Olympiad Research LP now owns 116,347 shares of the company’s stock worth $2,007,000 after acquiring an additional 98,335 shares during the last quarter. Wolverine Asset Management LLC grew its position in Bally’s by 39.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock valued at $2,294,000 after purchasing an additional 37,876 shares during the last quarter. Empowered Funds LLC grew its position in Bally’s by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock valued at $2,742,000 after purchasing an additional 8,040 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Bally’s by 78.9% during the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after acquiring an additional 8,608 shares during the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Bally’s during the 3rd quarter valued at about $26,665,000. Institutional investors own 70.41% of the company’s stock.

Bally’s Price Performance

Shares of BALY stock opened at $12.21 on Thursday. The firm has a market capitalization of $496.34 million, a price-to-earnings ratio of -0.81 and a beta of 2.05. Bally’s has a 12-month low of $10.00 and a 12-month high of $18.38. The firm has a fifty day moving average of $17.02 and a 200-day moving average of $17.33. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62.

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.