Bally’s (NYSE:BALY) Hits New 12-Month High – Time to Buy?

Bally’s Co. (NYSE:BALY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $18.02 and last traded at $18.00, with a volume of 809724 shares trading hands. The stock had previously closed at $17.93.

Bally’s Stock Performance

The company has a 50 day moving average price of $17.77 and a 200 day moving average price of $16.68. 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 $732.01 million, a price-to-earnings ratio of -1.20 and a beta of 2.04.

Institutional Investors Weigh In On Bally’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new position in shares of Bally’s in the 3rd quarter worth $38,000. Point72 DIFC Ltd bought a new position in shares of Bally’s in the third quarter valued at $48,000. SG Americas Securities LLC acquired a new position in shares of Bally’s during the third quarter valued at about $153,000. Quest Partners LLC acquired a new position in shares of Bally’s during the second quarter valued at about $131,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Bally’s during the second quarter worth about $217,000. 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.