Bally’s Corporation [BALY] Revenue clocked in at $1.96 billion, down -37.76% YTD: What’s Next?

Bally’s Corporation [NYSE: BALY] price surged by 2.07 percent to reach at $0.48. The company report on August 4, 2022 that Bally’s Corporation Announces Second Quarter 2022 Results.


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Bally’s Corporation (NYSE: BALY) today reported financial results for the second quarter ended June 30, 2022.

A sum of 223276 shares traded at recent session while its average daily volume was at 659.32K shares. Bally’s Corporation shares reached a high of $23.79 and dropped to a low of $22.74 until finishing in the latest session at $23.69.

The one-year BALY stock forecast points to a potential upside of 18.31. The average equity rating for BALY stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Bally’s Corporation [BALY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BALY shares is $29.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BALY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Bally’s Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on June 29, 2022. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Perform. The new note on the price target was released on June 28, 2022, representing the official price target for Bally’s Corporation stock. On February 28, 2022, analysts decreased their price target for BALY shares from 54 to 38.

The Average True Range (ATR) for Bally’s Corporation is set at 1.21, with the Price to Sales ratio for BALY stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 3.52. Price to Free Cash Flow for BALY in the course of the last twelve months was 33.60 with Quick ratio for the last quarter at 0.90.

BALY Stock Performance Analysis:

Bally’s Corporation [BALY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.55. With this latest performance, BALY shares gained by 10.96% in over the last four-week period, additionally sinking by -30.73% over the last 6 months – not to mention a drop of -51.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BALY stock in for the last two-week period is set at 47.72, with the RSI for the last a single of trading hit 43.35, and the three-weeks RSI is set at 49.40 for Bally’s Corporation [BALY]. The present Moving Average for the last 50 days of trading for this stock 22.70, while it was recorded at 23.71 for the last single week of trading, and 29.60 for the last 200 days.

Insight into Bally’s Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bally’s Corporation [BALY] shares currently have an operating margin of +9.90 and a Gross Margin at +48.59. Bally’s Corporation’s Net Margin is presently recorded at -5.43.

Return on Equity for this stock declined to -7.41, with Return on Assets sitting at -1.68.

Bally’s Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Bally’s Corporation [BALY] Insider Position Details

There are presently around $928 million, or 83.10% of BALY stock, in the hands of institutional investors. The top three institutional holders of BALY stocks are: STANDARD GENERAL L.P. with ownership of 11,424,849, which is approximately 0% of the company’s market cap and around 11.90% of the total institutional ownership; HG VORA CAPITAL MANAGEMENT, LLC, holding 4,500,000 shares of the stock with an approximate value of $106.61 million in BALY stocks shares; and BLACKROCK INC., currently with $59.41 million in BALY stock with ownership of nearly 23.319% of the company’s market capitalization.

Positions in Bally’s Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 85 institutional holders increased their position in Bally’s Corporation [NYSE:BALY] by around 7,179,491 shares. Additionally, 72 investors decreased positions by around 5,555,125 shares, while 17 investors held positions by with 26,442,059 shares. The mentioned changes placed institutional holdings at 39,176,675 shares, according to the latest SEC report filing. BALY stock had 30 new institutional investments in for a total of 1,602,397 shares, while 35 institutional investors sold positions of 3,652,783 shares during the same period.

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