King Street Capital Management L.P. Makes New Investment in Bally’s Co. (NYSE:BALY)

King Street Capital Management L.P. purchased a new stake in Bally’s Co. (NYSE:BALY) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 393,292 shares of the company’s stock, valued at approximately $6,784,000. Bally’s makes up 4.5% of King Street Capital Management L.P.’s holdings, making the stock its 7th largest holding. King Street Capital Management L.P. owned 0.97% of Bally’s at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Associates Management Inc. acquired a new stake in Bally’s in the 3rd quarter worth approximately $26,665,000. Alden Global Capital LLC lifted its stake in shares of Bally’s by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock worth $17,068,000 after buying an additional 554,263 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Bally’s in the 3rd quarter valued at $7,326,000. Glazer Capital LLC acquired a new position in shares of Bally’s in the 3rd quarter valued at $4,369,000. Finally, Verition Fund Management LLC purchased a new position in Bally’s in the 3rd quarter worth $3,754,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Trading Up 0.2 %

NYSE BALY opened at $17.76 on Wednesday. The company has a fifty day moving average of $17.62 and a 200 day moving average of $15.83. The company has a market capitalization of $722.25 million, a PE ratio of -1.18 and a beta of 2.06. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. Bally’s Co. has a 1 year low of $9.74 and a 1 year high of $18.00.

Bally’s Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.