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

Shares of Bally’s Co. (NYSE:BALY) gapped up prior to trading 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 trading hands.

Bally’s Stock Up 1.2 %

The firm has a market capitalization of $646.25 million, a PE ratio of -1.05 and a beta of 2.05. The firm’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $17.54. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BALY. Longfellow Investment Management Co. LLC acquired a new stake in shares of Bally’s in the 3rd quarter worth about $38,000. Point72 DIFC Ltd acquired a new stake in shares of Bally’s in the 3rd quarter worth about $48,000. SG Americas Securities LLC acquired a new stake in shares of Bally’s in the 3rd quarter worth about $153,000. Intech Investment Management LLC acquired a new stake in shares of Bally’s in the 4th quarter worth about $196,000. Finally, Quest Partners LLC increased its holdings in shares of Bally’s by 78.9% in the 3rd quarter. Quest Partners LLC now owns 19,517 shares of the company’s stock worth $337,000 after acquiring an additional 8,608 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Bally’s Company Profile

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.