Bally’s (NYSE:BALY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Bally’s Co. (NYSE:BALY) saw unusually-strong trading volume on Wednesday . Approximately 481,497 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 264,858 shares.The stock last traded at $17.98 and had previously closed at $17.93.

Bally’s Trading Down 0.3 %

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 business’s 50 day moving average price is $17.79 and its 200-day moving average price is $16.73. The firm has a market cap of $729.16 million, a price-to-earnings ratio of -1.19 and a beta of 2.04.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BALY. Renaissance Technologies LLC bought a new position in shares of Bally’s during the second quarter worth about $560,000. King Street Capital Management L.P. bought a new position in Bally’s in the 3rd quarter worth about $6,784,000. Vestcor Inc acquired a new stake in shares of Bally’s in the third quarter valued at approximately $1,725,000. Anson Funds Management LP bought a new stake in shares of Bally’s during the third quarter valued at approximately $1,394,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Bally’s during the second quarter valued at approximately $843,000. 70.41% of the stock is currently owned by institutional investors.

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.