Bally’s (NYSE:BALY) Sets New 12-Month High – What’s Next?

Shares of Bally’s Co. (NYSE:BALY) reached a new 52-week high during trading on Monday . The company traded as high as $15.00 and last traded at $14.33, with a volume of 18749 shares traded. The stock had previously closed at $16.00.

Bally’s Price Performance

The stock’s 50-day moving average price is $17.94 and its 200 day moving average price is $17.56. 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 firm has a market capitalization of $592.36 million, a price-to-earnings ratio of -0.97 and a beta of 2.05.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Alpine Associates Management Inc. acquired a new position in shares of Bally’s in the third quarter worth $26,665,000. Citigroup Inc. increased its position in shares of Bally’s by 8.8% during the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock worth $7,631,000 after purchasing an additional 35,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Bally’s in the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. purchased a new position in shares of Bally’s in the third quarter valued at $6,784,000. Finally, Glazer Capital LLC purchased a new position in Bally’s during the 3rd quarter valued at about $4,369,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.