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

Bally’s Co. (NYSE:BALY)’s stock price 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 changing hands.

Bally’s Trading Up 1.2 %

The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 15.62. The firm has a market cap of $646.25 million, a P/E ratio of -1.05 and a beta of 2.05. The company’s 50 day simple moving average is $17.83 and its 200-day simple moving average is $17.54.

Hedge Funds Weigh In On Bally’s

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Bally’s in the third quarter valued at $153,000. Olympiad Research LP increased its holdings in shares of Bally’s by 545.9% during the 3rd quarter. Olympiad Research LP now owns 116,347 shares of the company’s stock worth $2,007,000 after buying an additional 98,335 shares during the last quarter. Wolverine Asset Management LLC boosted its position in shares of Bally’s by 39.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 132,988 shares of the company’s stock worth $2,294,000 after purchasing an additional 37,876 shares during the period. Empowered Funds LLC boosted its position 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 purchasing an additional 8,040 shares during the period. Finally, Quest Partners LLC boosted 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 worth $337,000 after purchasing an additional 8,608 shares during the period. Institutional investors own 70.41% of the company’s stock.

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.