Alpine Associates Management Inc. Makes New Investment in Everi Holdings Inc. (NYSE:EVRI)

Alpine Associates Management Inc. acquired a new position in shares of Everi Holdings Inc. (NYSE:EVRI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,888,500 shares of the credit services provider’s stock, valued at approximately $24,815,000. Everi makes up about 1.1% of Alpine Associates Management Inc.’s portfolio, making the stock its 28th largest holding.

Several other institutional investors have also recently bought and sold shares of EVRI. Signaturefd LLC raised its holdings in Everi by 2,428.6% during the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after buying an additional 3,060 shares during the last quarter. CWM LLC raised its holdings in Everi by 117.5% during the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock worth $30,000 after buying an additional 1,897 shares during the last quarter. Huntington National Bank raised its holdings in Everi by 1,296.2% during the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock worth $77,000 after buying an additional 5,470 shares during the last quarter. Quarry LP raised its holdings in Everi by 38.9% during the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after buying an additional 2,864 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Everi during the second quarter worth $104,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Everi Price Performance

EVRI opened at $13.35 on Wednesday. The firm has a market cap of $1.15 billion, a P/E ratio of 28.39 and a beta of 2.13. The firm has a 50-day moving average of $13.25 and a 200 day moving average of $10.99. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. Everi Holdings Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $13.45.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EVRI shares. B. Riley increased their target price on shares of Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a report on Monday, August 5th. Raymond James reiterated a “market perform” rating on shares of Everi in a report on Monday, July 29th. Stifel Nicolaus reiterated a “hold” rating and issued a $14.25 target price (up previously from $11.00) on shares of Everi in a report on Wednesday, July 31st. Finally, StockNews.com started coverage on shares of Everi in a report on Monday. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating, According to MarketBeat, Everi currently has a consensus rating of “Hold” and a consensus price target of $12.88.

Insider Activity at Everi

In other Everi news, EVP Darren Simmons sold 75,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the transaction, the executive vice president now owns 190,425 shares in the company, valued at $2,494,567.50. This trade represents a 28.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey P. Judge sold 16,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.37, for a total transaction of $213,920.00. Following the transaction, the director now owns 91,572 shares of the company’s stock, valued at $1,224,317.64. This represents a 14.87 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Everi Profile

Everi Holdings Inc develops and supplies entertaining game content, gaming machines, and gaming systems and services for land-based and iGaming operators in the United States, Canada, and internationally. It operates in Games and Financial Technology Solutions segments. The company offers classic mechanical reel games and video reel games, as well as TournEvent of Champions, a national slot tournament; and sells gaming equipment and player terminals, licenses, game content, and ancillary equipment, such as signage and lighting packages.