500.com (NYSE:WBAI) Share Price Crosses Above Fifty Day Moving Average of $10.57

500.com Ltd (NYSE:WBAI) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.57 and traded as high as $9.65. 500.com shares last traded at $9.54, with a volume of 2,500 shares changing hands.

Separately, ValuEngine raised 500.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

The business has a 50-day simple moving average of $10.53 and a 200 day simple moving average of $11.87.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in 500.com by 1.0% during the 2nd quarter. Morgan Stanley now owns 236,121 shares of the company’s stock valued at $2,510,000 after purchasing an additional 2,381 shares during the last quarter. Northern Trust Corp raised its position in 500.com by 25.2% during the 2nd quarter. Northern Trust Corp now owns 21,039 shares of the company’s stock valued at $223,000 after purchasing an additional 4,231 shares during the last quarter. Finally, BlackRock Inc. raised its position in 500.com by 12.9% during the 4th quarter. BlackRock Inc. now owns 149,091 shares of the company’s stock valued at $1,130,000 after purchasing an additional 17,059 shares during the last quarter. 10.63% of the stock is owned by institutional investors and hedge funds.

About 500.com (NYSE:WBAI)

500.com Limited, through its subsidiaries, provides online gaming services primarily in the People's Republic of China and Europe. It operates online gaming sites, such as Multilotto.com or Multilotto.net in Curacao, Malta, the United Kingdom, and Ireland, as well as provides users with various casino services, including online slot machines and online table games.

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