Bally’s (NYSE:BALY) Trading Up 4.5% – Should You Buy?

Bally’s Co. (NYSE:BALY)’s share price traded up 4.5% during trading on Tuesday . The stock traded as high as $16.64 and last traded at $17.16. 350 shares were traded during trading, a decline of 100% from the average session volume of 406,498 shares. The stock had previously closed at $16.42.

Bally’s Stock Up 2.0 %

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 50-day moving average of $17.34 and a 200 day moving average of $17.43. The stock has a market capitalization of $680.97 million, a price-to-earnings ratio of -1.11 and a beta of 2.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BALY. Longfellow Investment Management Co. LLC purchased a new stake in Bally’s during the 3rd quarter worth $38,000. Point72 DIFC Ltd purchased a new stake in shares of Bally’s during the third quarter worth about $48,000. BNP Paribas Financial Markets purchased a new stake in shares of Bally’s during the fourth quarter worth about $58,000. SG Americas Securities LLC lifted its stake in shares of Bally’s by 7.0% in the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock worth $170,000 after acquiring an additional 624 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Bally’s in the fourth quarter valued at about $196,000. 70.41% of the stock is owned by institutional investors and hedge funds.

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.