Bally’s (NYSE:BALY) Sets New 1-Year High – Here’s Why

Bally’s Co. (NYSE:BALY) hit a new 52-week high during trading on Friday . The stock traded as high as $18.00 and last traded at $17.98, with a volume of 261845 shares traded. The stock had previously closed at $17.88.

Bally’s Trading Up 0.4 %

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 company has a market capitalization of $730.38 million, a P/E ratio of -1.19 and a beta of 2.06. The company has a 50-day simple moving average of $17.74 and a 200 day simple moving average of $16.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Bally’s by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after buying an additional 1,064 shares during the period. Gabelli Funds LLC raised its holdings in Bally’s by 0.8% in the 2nd quarter. Gabelli Funds LLC now owns 171,000 shares of the company’s stock valued at $2,047,000 after acquiring an additional 1,376 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Bally’s in the 3rd quarter worth approximately $38,000. Point72 DIFC Ltd acquired a new stake in shares of Bally’s during the 3rd quarter worth approximately $48,000. Finally, Empowered Funds LLC increased its position in shares of Bally’s by 5.3% during the third quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock valued at $2,742,000 after purchasing an additional 8,040 shares during the period. Institutional investors own 70.41% of the company’s stock.

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.