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

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

Bally’s Stock Performance

The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. The company has a market cap of $729.16 million, a P/E ratio of -1.19 and a beta of 2.04. The business’s 50 day simple moving average is $17.79 and its 200 day simple moving average is $16.73.

Institutional Trading of Bally’s

Several institutional investors and hedge funds have recently modified their holdings of BALY. JPMorgan Chase & Co. increased its stake in Bally’s by 120.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company’s stock worth $707,000 after buying an additional 22,425 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Bally’s during the third quarter worth about $482,000. Barclays PLC raised its stake in Bally’s by 63.7% during the 3rd quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after purchasing an additional 14,567 shares during the period. King Street Capital Management L.P. purchased a new position in Bally’s in the 3rd quarter worth approximately $6,784,000. Finally, Vestcor Inc bought a new position in Bally’s in the 3rd quarter worth approximately $1,725,000. 70.41% of the stock is currently owned by institutional investors.

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.