Bally’s (NYSE:BALY) Sets New 52-Week High – Here’s Why

Bally’s Co. (NYSE:BALY)’s share price hit a new 52-week high during 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 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 company has a 50 day moving average of $17.85 and a 200 day moving average of $17.12.

Hedge Funds Weigh In On Bally’s

A number of large investors have recently added to or reduced their stakes in BALY. Alpine Associates Management Inc. bought a new position in shares of Bally’s in the 3rd quarter valued at about $26,665,000. Alden Global Capital LLC grew its holdings in shares of Bally’s by 63.6% in the 2nd quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock valued at $17,068,000 after acquiring an additional 554,263 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Bally’s by 8.8% in the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after acquiring an additional 35,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Bally’s in the 3rd quarter valued at about $7,326,000. Finally, King Street Capital Management L.P. bought a new position in shares of Bally’s in the 3rd quarter valued at about $6,784,000. Institutional investors own 70.41% of the company’s stock.

About Bally’s

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.