Bally’s (NYSE:BALY) Reaches New 52-Week High – Here’s What Happened

Bally’s Co. (NYSE:BALY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.08 and last traded at $17.98, with a volume of 540441 shares traded. The stock had previously closed at $17.97.

Bally’s Stock Performance

The firm has a fifty day simple moving average of $17.82 and a 200-day simple moving average of $16.90. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpine Associates Management Inc. acquired a new position in Bally’s during the 3rd quarter valued at about $26,665,000. Alden Global Capital LLC raised its stake in shares of 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Bally’s in the third quarter valued at approximately $7,326,000. King Street Capital Management L.P. bought a new position in Bally’s in the third quarter valued at approximately $6,784,000. Finally, Glazer Capital LLC acquired a new stake in Bally’s during the 3rd quarter worth $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.