Bally’s (NYSE:BALY) Shares Gap Down – Here’s Why

Bally’s Co. (NYSE:BALY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $14.01. Bally’s shares last traded at $15.23, with a volume of 308 shares traded.

Bally’s Stock Down 1.9 %

The company has a market cap of $614.28 million, a price-to-earnings ratio of -1.00 and a beta of 2.05. The firm’s 50-day moving average price is $17.50 and its 200-day moving average price is $17.46. 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

A number of institutional investors have recently made changes to their positions in BALY. SG Americas Securities LLC raised its stake in Bally’s by 7.0% during 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 during the period. JPMorgan Chase & Co. lifted its stake in Bally’s by 120.7% during the third quarter. JPMorgan Chase & Co. now owns 41,001 shares of the company’s stock valued at $707,000 after buying an additional 22,425 shares in the last quarter. Barclays PLC raised its stake in Bally’s by 63.7% during the 3rd quarter. Barclays PLC now owns 37,419 shares of the company’s stock valued at $645,000 after purchasing an additional 14,567 shares during the period. King Street Capital Management L.P. acquired a new position in Bally’s in the 3rd quarter valued at approximately $6,784,000. Finally, Vestcor Inc acquired a new stake in Bally’s in the third quarter valued at approximately $1,725,000. 70.41% of the stock is currently owned by institutional investors.

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.