Bally's (NYSE:BALY) Shares Down 5.2% - What's Next?

Bally's Corporation (NYSE:BALY - Get Free Report) traded down 5.2% during trading on Tuesday . The company traded as low as $16.71 and last traded at $16.78. 112,333 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 94,852 shares. The stock had previously closed at $17.70.

Analyst Ratings Changes

• Is Bally’s Turnaround a Safe Bet Amid Mixed Investor Sentiment?

A number of brokerages have issued reports on BALY. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bally's in a report on Thursday, October 30th. Barclays dropped their target price on shares of Bally's from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of Bally's from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Stifel Nicolaus increased their price objective on shares of Bally's from $10.00 to $20.00 and gave the company a "hold" rating in a report on Tuesday, November 11th. Finally, Truist Financial raised their price objective on Bally's from $13.00 to $18.00 and gave the company a "hold" rating in a research report on Friday, November 14th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $16.50.

View Our Latest Analysis on Bally's

Bally's Price Performance

• How to Invest in Casino Stocks: Pros and Cons and More

The company has a market cap of $824.02 million, a P/E ratio of -3.43 and a beta of 1.46. The firm's 50-day moving average is $15.53 and its two-hundred day moving average is $11.92. The company has a debt-to-equity ratio of 7.13, a current ratio of 0.68 and a quick ratio of 0.66.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.99). Bally's had a negative return on equity of 63.71% and a negative net margin of 17.41%.The business had revenue of $210.25 million during the quarter, compared to analysts' expectations of $668.49 million. Analysts anticipate that Bally's Corporation will post -7.26 earnings per share for the current year.

Institutional Investors Weigh In On Bally's

• Bally's Misses Views, But Wall Street Sees Earnings Growth In '21 and '22

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Bally's by 21,781.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,411 shares of the company's stock valued at $8,418,000 after purchasing an additional 754,945 shares during the last quarter. Geode Capital Management LLC raised its holdings in Bally's by 113.1% during the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company's stock valued at $1,577,000 after buying an additional 87,346 shares during the period. Janney Montgomery Scott LLC bought a new stake in Bally's in the second quarter worth $867,000. JB Capital Partners LP purchased a new position in Bally's during the third quarter worth $555,000. Finally, Crossingbridge Advisors LLC boosted its stake in Bally's by 40.0% during the third quarter. Crossingbridge Advisors LLC now owns 35,000 shares of the company's stock worth $388,000 after buying an additional 10,000 shares during the period. 70.41% of the stock is owned by institutional investors.

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.

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