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

Bally’s Co. (NYSE:BALY) gapped down prior to trading on Wednesday . The stock had previously closed at $17.00, but opened at $16.50. Bally’s shares last traded at $16.45, with a volume of 1,803 shares changing hands.

Bally’s Price Performance

The stock has a market cap of $643.76 million, a PE ratio of -1.05 and a beta of 2.05. 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’s 50-day moving average is $17.32 and its two-hundred day moving average is $17.43.

Hedge Funds Weigh In On Bally’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BALY. SG Americas Securities LLC increased its position in 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 acquiring an additional 624 shares during the period. JPMorgan Chase & Co. increased its position in Bally’s by 120.7% during the third quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company’s stock worth $707,000 after purchasing an additional 22,425 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of Bally’s by 30.3% in the 4th quarter. Wolverine Asset Management LLC now owns 173,238 shares of the company’s stock worth $3,099,000 after buying an additional 40,250 shares during the period. Barclays PLC raised its holdings in Bally’s by 63.7% in the third quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after buying an additional 14,567 shares during the period. Finally, King Street Capital Management L.P. acquired a new position in shares of Bally’s during the 3rd quarter valued at $6,784,000. 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.