Bally’s (NYSE:BALY) Sets New 52-Week Low – Should You Sell?

Bally’s Co. (NYSE:BALY) shares reached a new 52-week low on Tuesday . The company traded as low as $10.00 and last traded at $14.74, with a volume of 35158 shares changing hands. The stock had previously closed at $16.00.

Bally’s Stock Up 1.4 %

The business’s 50 day moving average price is $17.80 and its 200-day moving average price is $17.53. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56.

Institutional Trading of Bally’s

Several hedge funds and other institutional investors have recently bought and sold shares of BALY. Alpine Associates Management Inc. acquired a new position in Bally’s in the 3rd quarter worth about $26,665,000. Citigroup Inc. increased its stake in shares of Bally’s by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after buying an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bally’s in the 3rd quarter valued at approximately $7,326,000. King Street Capital Management L.P. acquired a new stake in Bally’s during the 3rd quarter worth approximately $6,784,000. Finally, Alliancebernstein L.P. grew its holdings in Bally’s by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 379,812 shares of the company’s stock worth $6,795,000 after acquiring an additional 22,573 shares during the last quarter. Institutional investors and hedge funds 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.