Bally’s (NYSE:BALY) Sets New 1-Year High – Here’s Why

Bally’s Co. (NYSE:BALY)’s share price hit a new 52-week high on Friday . The company traded as high as $18.00 and last traded at $17.98, with a volume of 261845 shares traded. The stock had previously closed at $17.88.

Bally’s Price Performance

The business’s fifty day moving average price is $17.73 and its 200 day moving average price is $16.46. The stock has a market cap of $730.38 million, a P/E ratio of -1.19 and a beta of 2.06. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

Institutional Trading of Bally’s

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alpine Associates Management Inc. bought a new position in shares of Bally’s in the third quarter valued at approximately $26,665,000. Alden Global Capital LLC grew its position in Bally’s by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock worth $17,068,000 after buying an additional 554,263 shares in the last quarter. Citigroup Inc. raised 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 stake in shares of Bally’s during the 3rd quarter valued at about $7,326,000. Finally, King Street Capital Management L.P. purchased a new position in shares of Bally’s during the third quarter worth about $6,784,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

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.