Bally’s (NYSE:BALY) Reaches New 12-Month High – Here’s What Happened

Bally’s Co. (NYSE:BALY)’s share price reached a new 52-week high on Tuesday . The company traded as high as $18.15 and last traded at $18.12, with a volume of 226666 shares changing hands. The stock had previously closed at $18.12.

Bally’s Price Performance

The business’s fifty day simple moving average is $17.84 and its 200-day simple moving average is $17.07. 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 firm has a market cap of $736.33 million, a P/E ratio of -1.20 and a beta of 2.04.

Hedge Funds Weigh In On Bally’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in Bally’s in the 2nd quarter worth approximately $560,000. King Street Capital Management L.P. bought a new position in shares of Bally’s during the 3rd quarter valued at $6,784,000. Vestcor Inc bought a new stake in Bally’s in the third quarter worth $1,725,000. Barclays PLC grew its stake in shares of Bally’s by 63.7% during 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 last quarter. Finally, Anson Funds Management LP bought a new stake in shares of Bally’s in the 3rd quarter valued at about $1,394,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Company Profile

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.