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

Bally’s Co. (NYSE:BALY)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $18.00 and last traded at $17.98, with a volume of 261845 shares traded. The stock had previously closed at $17.88.

Bally’s Trading Up 0.4 %

The company has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $16.55. The company has a market capitalization of $730.38 million, a P/E ratio of -1.19 and a beta of 2.06. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in BALY. Longfellow Investment Management Co. LLC bought a new position in shares of Bally’s in the third quarter valued at approximately $38,000. Point72 DIFC Ltd acquired a new position in Bally’s in the 3rd quarter valued at $48,000. Quest Partners LLC bought a new position in Bally’s in the 2nd quarter worth $131,000. SG Americas Securities LLC acquired a new position in Bally’s during the 3rd quarter worth $153,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Bally’s during the second quarter valued at about $217,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.