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

Bally’s Co. (NYSE:BALY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.02 and last traded at $18.00, with a volume of 809724 shares traded. The stock had previously closed at $17.93.

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 stock’s 50 day moving average price is $17.77 and its 200 day moving average price is $16.68. The company has a market capitalization of $732.01 million, a P/E ratio of -1.20 and a beta of 2.04.

Institutional Trading of Bally’s

Large investors have recently bought and sold shares of the business. Alpine Associates Management Inc. bought a new stake in shares of Bally’s during the 3rd quarter valued at about $26,665,000. Alden Global Capital LLC lifted its stake in Bally’s by 63.6% in the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock valued at $17,068,000 after buying an additional 554,263 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Bally’s during the 3rd quarter worth approximately $7,326,000. King Street Capital Management L.P. acquired a new stake in shares of Bally’s during the 3rd quarter worth approximately $6,784,000. Finally, Glazer Capital LLC bought a new stake in shares of Bally’s in the 3rd quarter valued at $4,369,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

About Bally’s

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.