Bally’s (NYSE:BALY) Reaches New 52-Week High – Still a Buy?

Bally’s Co. (NYSE:BALY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.15 and last traded at $18.12, with a volume of 226666 shares. The stock had previously closed at $18.12.

Bally’s Trading Up 0.0 %

The firm’s 50 day moving average is $17.84 and its 200 day moving average is $17.07. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The company has a market capitalization of $736.33 million, a PE ratio of -1.20 and a beta of 2.04.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in Bally’s in the 2nd quarter worth approximately $560,000. King Street Capital Management L.P. purchased a new stake in Bally’s in the third quarter worth $6,784,000. Vestcor Inc bought a new stake in Bally’s in the third quarter valued at $1,725,000. Barclays PLC boosted its holdings in Bally’s by 63.7% in the third quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after acquiring an additional 14,567 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in Bally’s during the 3rd quarter valued at $1,394,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.