StockNews.com Initiates Coverage on Everi (NYSE:EVRI)

StockNews.com began coverage on shares of Everi (NYSE:EVRI) in a research report report published on Monday. The brokerage issued a hold rating on the credit services provider’s stock.

A number of other research firms have also recently issued reports on EVRI. B. Riley raised their price target on shares of Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a report on Monday, August 5th. Raymond James reaffirmed a “market perform” rating on shares of Everi in a research report on Monday, July 29th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $14.25 price objective (up from $11.00) on shares of Everi in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.88.

Everi Price Performance

Shares of EVRI stock opened at $13.39 on Monday. Everi has a fifty-two week low of $6.37 and a fifty-two week high of $13.45. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 28.49 and a beta of 2.13. The stock’s 50-day simple moving average is $13.25 and its 200-day simple moving average is $11.00.

Insider Activity at Everi

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

Institutional Investors Weigh In On Everi

Several hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its holdings in Everi by 2,428.6% in the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 3,060 shares during the period. CWM LLC increased its position in shares of Everi by 117.5% in the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock valued at $30,000 after buying an additional 1,897 shares in the last quarter. Huntington National Bank raised its stake in shares of Everi by 1,296.2% during the 3rd 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 period. Quarry LP lifted its position in shares of Everi by 38.9% during the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock valued at $86,000 after buying an additional 2,864 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Everi in the 2nd quarter valued at $104,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

About Everi

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.