Everi (NYSE:EVRI) Reaches New 52-Week High – What’s Next?

Shares of Everi Holdings Inc. (NYSE:EVRI) reached a new 52-week high during trading on Friday . The company traded as high as $13.45 and last traded at $13.42, with a volume of 378267 shares traded. The stock had previously closed at $13.39.

Wall Street Analysts Forecast Growth

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

Everi Trading Up 0.4 %

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 28.49 and a beta of 2.13. The business has a 50-day moving average of $13.25 and a 200-day moving average of $11.00. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84.

Insider Activity

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

Institutional Trading of Everi

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Glazer Capital LLC acquired a new position in Everi during the 3rd quarter worth about $33,507,000. Alpine Associates Management Inc. acquired a new position in shares of Everi during the third quarter valued at about $24,815,000. Clearbridge Investments LLC increased its holdings in shares of Everi by 85.3% during the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after acquiring an additional 1,282,682 shares in the last quarter. Westchester Capital Management LLC acquired a new position in shares of Everi during the third quarter valued at about $16,662,000. Finally, Sand Grove Capital Management LLP purchased a new stake in shares of Everi in the third quarter worth approximately $15,806,000. 95.47% of the stock is currently owned by institutional investors.

Everi Company 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.