Bally’s (NYSE:BALY) Shares Gap Up – What’s Next?

Bally’s Co. (NYSE:BALY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $15.70, but opened at $16.09. Bally’s shares last traded at $15.73, with a volume of 230 shares.

Bally’s Price Performance

The stock has a fifty day moving average of $17.76 and a 200 day moving average of $17.51. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62.

Institutional Trading of Bally’s

Several institutional investors and hedge funds have recently bought and sold shares of BALY. Longfellow Investment Management Co. LLC purchased a new position in shares of Bally’s during the third quarter worth $38,000. Point72 DIFC Ltd purchased a new position in shares of Bally’s during the 3rd quarter valued at about $48,000. SG Americas Securities LLC acquired a new position in shares of Bally’s in the 3rd quarter valued at about $153,000. Intech Investment Management LLC acquired a new position in shares of Bally’s in the 4th quarter valued at about $196,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Bally’s by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after buying an additional 860 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.