Bally’s (NYSE:BALY) Reaches New 12-Month High – Still a Buy?

Bally’s Co. (NYSE:BALY)’s share price hit a new 52-week high on Monday . The company traded as high as $18.18 and last traded at $18.13, with a volume of 11418 shares changing hands. The stock had previously closed at $18.13.

Bally’s Stock Performance

The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The company’s fifty day moving average is $17.87 and its 200-day moving average is $17.31.

Hedge Funds Weigh In On Bally’s

Institutional investors have recently made changes to their positions in the business. Alpine Associates Management Inc. purchased a new stake in Bally’s during the third quarter valued at approximately $26,665,000. Citigroup Inc. grew its position in shares of Bally’s by 8.8% during the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after acquiring an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Bally’s in the 3rd quarter worth $7,326,000. King Street Capital Management L.P. bought a new position in Bally’s in the 3rd quarter worth $6,784,000. Finally, Dimensional Fund Advisors LP lifted its position in Bally’s by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 333,680 shares of the company’s stock valued at $3,994,000 after purchasing an additional 28,590 shares in the last quarter. 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.