Bally’s (NYSE:BALY) Shares Gap Up to $12.63

Bally’s Co. (NYSE:BALY) gapped up prior to trading on Friday . The stock had previously closed at $12.63, but opened at $12.99. Bally’s shares last traded at $13.27, with a volume of 36,619 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Truist Financial lifted their price objective on shares of Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Bally’s currently has an average rating of “Hold” and a consensus target price of $15.33.

Bally’s Stock Performance

The firm has a market cap of $537.30 million, a price-to-earnings ratio of -1.29 and a beta of 2.11. The stock has a 50 day moving average of $12.16 and a 200 day moving average of $12.28. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 8.14.

Bally’s (NYSE:BALY) last issued its earnings results on Wednesday, May 1st. The company reported ($3.61) EPS for the quarter, missing the consensus estimate of ($1.13) by ($2.48). The business had revenue of $618.48 million for the quarter, compared to analyst estimates of $625.94 million. Bally’s had a negative return on equity of 36.63% and a negative net margin of 21.26%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.74) EPS. As a group, analysts anticipate that Bally’s Co. will post -7.53 EPS for the current fiscal year.

Institutional Trading of Bally’s

Several institutional investors have recently added to or reduced their stakes in BALY. Vanguard Group Inc. boosted its holdings in Bally’s by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company’s stock valued at $22,875,000 after acquiring an additional 93,681 shares during the last quarter. Strs Ohio boosted its holdings in shares of Bally’s by 77.2% during the 4th quarter. Strs Ohio now owns 43,600 shares of the company’s stock worth $607,000 after buying an additional 19,000 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of Bally’s by 200.1% during the 4th quarter. Wolverine Asset Management LLC now owns 39,951 shares of the company’s stock worth $557,000 after buying an additional 26,640 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Bally’s by 150.5% during the 4th quarter. Jump Financial LLC now owns 74,398 shares of the company’s stock worth $1,037,000 after buying an additional 44,702 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Bally’s by 101.5% during the 4th quarter. Trexquant Investment LP now owns 55,056 shares of the company’s stock worth $767,000 after buying an additional 27,736 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

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.