Bally’s (NYSE:BALY) Sets New 12-Month Low – Time to Sell?

Shares of Bally’s Co. (NYSE:BALY) hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.00 and last traded at $14.74, with a volume of 35158 shares changing hands. The stock had previously closed at $16.00.

Bally’s Price Performance

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 business’s 50-day simple moving average is $17.80 and its two-hundred day simple moving average is $17.53.

Hedge Funds Weigh In On Bally’s

A number of hedge funds have recently bought and sold shares of the company. Alpine Associates Management Inc. bought a new stake in Bally’s during the third quarter valued at $26,665,000. Citigroup Inc. lifted its stake in shares of Bally’s by 8.8% in the 3rd quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock valued at $7,631,000 after purchasing an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Bally’s during the 3rd quarter valued at about $7,326,000. King Street Capital Management L.P. acquired a new stake in Bally’s during the third quarter worth approximately $6,784,000. Finally, Alliancebernstein L.P. increased its holdings in Bally’s by 6.3% in the fourth quarter. Alliancebernstein L.P. now owns 379,812 shares of the company’s stock worth $6,795,000 after purchasing an additional 22,573 shares in the last quarter. 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.