Bally’s (NYSE:BALY) Upgraded by Citizens Jmp to “Hold” Rating

Bally’s (NYSE:BALY) was upgraded by analysts at Citizens Jmp to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

BALY has been the subject of a number of other research reports. Stifel Nicolaus dropped their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Barclays dropped their target price on shares of Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Bally’s presently has an average rating of “Hold” and a consensus price target of $17.13.

Bally’s Stock Performance

NYSE:BALY opened at $17.87 on Tuesday. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The company has a fifty day moving average of $16.96 and a two-hundred day moving average of $17.36. The stock has a market capitalization of $864.67 million, a PE ratio of -1.19 and a beta of 2.14. Bally’s has a fifty-two week low of $10.00 and a fifty-two week high of $18.98.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million during the quarter, compared to analysts’ expectations of $589.83 million. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. As a group, research analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

A number of hedge funds have recently modified their holdings of BALY. Quest Partners LLC grew its holdings in shares of Bally’s by 78.9% in the third quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after purchasing an additional 8,608 shares during the period. Citigroup Inc. grew its holdings in shares of Bally’s by 8.8% in the third 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 period. Algert Global LLC grew its holdings in shares of Bally’s by 21.3% in the third quarter. Algert Global LLC now owns 79,033 shares of the company’s stock valued at $1,363,000 after purchasing an additional 13,857 shares during the period. Longfellow Investment Management Co. LLC purchased a new stake in shares of Bally’s in the third quarter valued at about $38,000. Finally, Quantbot Technologies LP acquired a new position in Bally’s in the third quarter valued at about $431,000. 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.