Bally’s (NYSE:BALY) Reaches New 1-Year High – Still a Buy?

Bally’s Co. (NYSE:BALY) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $18.18 and last traded at $18.13, with a volume of 11418 shares. The stock had previously closed at $18.13.

Bally’s Stock Down 0.0 %

The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The company’s 50 day moving average price is $17.86 and its 200 day moving average price is $17.24. The firm has a market capitalization of $737.14 million, a price-to-earnings ratio of -1.20 and a beta of 2.04.

Institutional Trading of Bally’s

Several large investors have recently made changes to their positions in the business. Alpine Associates Management Inc. acquired a new stake in Bally’s during the third quarter valued at $26,665,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Bally’s during the 3rd quarter valued at approximately $7,326,000. King Street Capital Management L.P. acquired a new stake in Bally’s in the 3rd quarter valued at $6,784,000. Glazer Capital LLC purchased a new stake in Bally’s in the 3rd quarter worth $4,369,000. Finally, Verition Fund Management LLC acquired a new position in Bally’s during the third quarter worth $3,754,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

Bally’s Company Profile

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.