Bally’s (NYSE:BALY) Reaches New 12-Month High – Time to Buy?

Bally’s Co. (NYSE:BALY)’s stock price hit 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 Stock Up 5.1 %

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 firm’s 50-day simple moving average is $17.83 and its two-hundred day simple moving average is $17.54.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Alpine Associates Management Inc. bought a new position in Bally’s in the third quarter valued at approximately $26,665,000. Citigroup Inc. grew its position 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 purchasing an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Bally’s during the third quarter worth $7,326,000. King Street Capital Management L.P. acquired a new stake in shares of Bally’s in the 3rd quarter valued at about $6,784,000. Finally, Glazer Capital LLC acquired a new stake in Bally’s in the 3rd quarter valued at approximately $4,369,000. 70.41% of the stock is currently owned by institutional investors.

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.