Bally’s (NYSE:BALY) Shares Gap Up – Time to Buy?

Bally’s Co. (NYSE:BALY) gapped up before the market opened on Wednesday . The stock had previously closed at $15.70, but opened at $16.09. Bally’s shares last traded at $15.73, with a volume of 230 shares traded.

Bally’s Stock Down 1.7 %

The firm’s fifty day moving average price is $17.76 and its two-hundred day moving average price is $17.51. 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Bally’s during the 3rd quarter valued at about $153,000. Olympiad Research LP grew its holdings in Bally’s by 545.9% in the third quarter. Olympiad Research LP now owns 116,347 shares of the company’s stock valued at $2,007,000 after purchasing an additional 98,335 shares during the period. Wolverine Asset Management LLC increased its position in shares of Bally’s by 39.8% in the third quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock valued at $2,294,000 after buying an additional 37,876 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Bally’s by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 158,970 shares of the company’s stock worth $2,742,000 after buying an additional 8,040 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Bally’s by 78.9% during the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock valued at $337,000 after buying an additional 8,608 shares in the last quarter. Hedge funds and other 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.