Bally’s (NYSE:BALY) Reaches New 1-Year Low – Here’s What Happened

Bally’s Co. (NYSE:BALY) shares reached a new 52-week low on Tuesday . The company traded as low as $10.00 and last traded at $14.74, with a volume of 35158 shares trading hands. The stock had previously closed at $16.00.

Bally’s Stock Performance

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 business’s 50 day moving average is $17.88 and its two-hundred day moving average is $17.55.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Associates Management Inc. purchased a new stake in Bally’s in the 3rd quarter worth $26,665,000. Citigroup Inc. lifted its position in shares of Bally’s by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock worth $7,631,000 after buying an additional 35,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bally’s during the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. bought a new stake in Bally’s in the 3rd quarter worth approximately $6,784,000. Finally, Glazer Capital LLC purchased a new stake in shares of Bally’s during the 3rd quarter worth approximately $4,369,000. Institutional investors own 70.41% of the company’s stock.

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.