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

Bally’s Co. (NYSE:BALY) shares hit a new 52-week high during trading on Monday . The stock traded as high as $18.18 and last traded at $18.13, with a volume of 11418 shares. The stock had previously closed at $18.13.

Bally’s Trading Up 0.1 %

The company has a 50-day simple moving average of $17.87 and a two-hundred day simple moving average of $17.31. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62.

Hedge Funds Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC bought a new stake in Bally’s during the 3rd quarter valued at about $38,000. Point72 DIFC Ltd bought a new position in Bally’s in the 3rd quarter valued at approximately $48,000. SG Americas Securities LLC purchased a new stake in Bally’s during the 3rd quarter valued at $153,000. Quest Partners LLC boosted its stake in Bally’s by 78.9% during the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after purchasing an additional 8,608 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Bally’s in the third quarter worth $381,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.