Bally’s (NYSE:BALY) Shares Gap Down – Should You Sell?

Bally’s Co. (NYSE:BALY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.00, but opened at $16.50. Bally’s shares last traded at $16.45, with a volume of 1,803 shares changing hands.

Bally’s Price Performance

The firm has a market cap of $643.76 million, a PE ratio of -1.05 and a beta of 2.05. The stock has a 50 day simple moving average of $17.32 and a two-hundred day simple moving average of $17.43. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC acquired a new position in shares of Bally’s during the third quarter valued at approximately $38,000. Point72 DIFC Ltd purchased a new stake in Bally’s in the 3rd quarter valued at $48,000. BNP Paribas Financial Markets acquired a new stake in shares of Bally’s in the 4th quarter worth $58,000. SG Americas Securities LLC raised its holdings in shares of Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after acquiring an additional 624 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Bally’s during the 4th quarter valued at about $196,000. Institutional investors and hedge funds 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.