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

Bally’s Co. (NYSE:BALY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $14.01. Bally’s shares last traded at $15.23, with a volume of 308 shares trading hands.

Bally’s Stock Performance

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 stock has a market cap of $614.28 million, a price-to-earnings ratio of -1.00 and a beta of 2.05. The firm’s 50-day moving average price is $17.50 and its two-hundred day moving average price is $17.46.

Institutional Trading of Bally’s

Several institutional investors and hedge funds have recently bought and sold shares of BALY. Vestcor Inc grew its holdings in shares of Bally’s by 0.6% in the fourth quarter. Vestcor Inc now owns 100,594 shares of the company’s stock valued at $1,800,000 after purchasing an additional 594 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Bally’s by 7.0% in the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after purchasing an additional 624 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Bally’s by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,055 shares of the company’s stock worth $251,000 after purchasing an additional 860 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Bally’s in the third quarter valued at $38,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Bally’s in the 3rd quarter worth about $48,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Company Profile

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.