Fintel reports that on October 31, 2023, Stifel maintained coverage of Ballys (NYSE:BALY) with a Hold recommendation.
Analyst Price Forecast Suggests 127.42% Upside
As of October 5, 2023, the average one-year price target for Ballys is 20.40. The forecasts range from a low of 15.15 to a high of $31.50. The average price target represents an increase of 127.42% from its latest reported closing price of 8.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ballys is 2,498MM, an increase of 5.85%. The projected annual non-GAAP EPS is 0.04.
What is the Fund Sentiment?
There are 273 funds or institutions reporting positions in Ballys. This is an increase of 23 owner(s) or 9.20% in the last quarter. Average portfolio weight of all funds dedicated to BALY is 0.39%, an increase of 27.01%. Total shares owned by institutions decreased in the last three months by 1.74% to 30,412K shares. 
The put/call ratio of BALY is 0.06, indicating a bullish outlook.
What are Other Shareholders Doing?
Standard General holds 10,590K shares representing 23.21% ownership of the company. No change in the last quarter.
HG Vora Capital Management holds 2,250K shares representing 4.93% ownership of the company. No change in the last quarter.
Vaughan Nelson Investment Management holds 1,272K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 1,226K shares, representing an increase of 3.63%. The firm increased its portfolio allocation in BALY by 215.04% over the last quarter.
Sycale Advisors holds 1,238K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 930K shares, representing an increase of 24.86%. The firm decreased its portfolio allocation in BALY by 19.66% over the last quarter.
Polygon Management holds 1,100K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 1,050K shares, representing an increase of 4.55%. The firm decreased its portfolio allocation in BALY by 12.14% over the last quarter.
Ballys Background Information
(This description is provided by the company.)
Bally's Corporation currently owns and manages 11 casinos across seven states, a horse racetrack and 13 authorized OTB licenses in Colorado. With more than 5,900 employees, the Company's operations include 13,260 slot machines, 459 game tables and 2,941 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer's Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), as well as the construction of a land-based casino near the Nittany Mall in State College, PA, Bally's will own and manage 15 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol 'BALY.'
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This story originally appeared on Fintel.
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