Fintel reports that on May 23, 2023, Jefferies maintained coverage of Ballys (NYSE:BALY) with a Hold recommendation.
Analyst Price Forecast Suggests 48.89% Upside
As of May 11, 2023, the average one-year price target for Ballys is 23.08. The forecasts range from a low of 17.17 to a high of $36.75. The average price target represents an increase of 48.89% from its latest reported closing price of 15.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ballys is 2,498MM, an increase of 8.32%. The projected annual non-GAAP EPS is 0.04.
What is the Fund Sentiment?
There are 251 funds or institutions reporting positions in Ballys. This is a decrease of 16 owner(s) or 5.99% in the last quarter. Average portfolio weight of all funds dedicated to BALY is 0.33%, an increase of 7.24%. Total shares owned by institutions decreased in the last three months by 2.59% to 30,749K shares. 
The put/call ratio of BALY is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
Standard General holds 10,590K shares representing 23.05% ownership of the company. No change in the last quarter.
HG Vora Capital Management holds 2,250K shares representing 4.90% ownership of the company. In it's prior filing, the firm reported owning 3,250K shares, representing a decrease of 44.44%. The firm decreased its portfolio allocation in BALY by 49.66% over the last quarter.
Vaughan Nelson Investment Management holds 1,226K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 1,266K shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in BALY by 21,842.34% over the last quarter.
Polygon Management holds 1,050K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 937K shares, representing an increase of 10.77%. The firm increased its portfolio allocation in BALY by 1.27% over the last quarter.
Sycale Advisors holds 930K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 900K shares, representing an increase of 3.22%. The firm increased its portfolio allocation in BALY by 84,223.15% 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.'
Key filings for this company:
This story originally appeared on Fintel.
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