Everi (NYSE:EVRI) Sees Large Volume Increase – Still a Buy?

Shares of Everi Holdings Inc. (NYSE:EVRI) saw strong trading volume on Friday . 974,371 shares traded hands during trading, an increase of 72% from the previous session’s volume of 566,770 shares.The stock last traded at $13.63 and had previously closed at $13.64.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Everi in a research report on Tuesday, January 21st. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.88.

Everi Stock Down 0.2 %

The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $13.50 and a 200-day simple moving average of $12.89. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 90.77 and a beta of 2.06.

Insider Transactions at Everi

In related news, CFO Mark F. Labay sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $13.38, for a total value of $669,000.00. Following the completion of the transaction, the chief financial officer now owns 142,426 shares in the company, valued at $1,905,659.88. The trade was a 25.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Geoffrey P. Judge sold 16,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the sale, the director now owns 91,572 shares of the company’s stock, valued at approximately $1,224,317.64. The trade was a 14.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock valued at $3,435,636 in the last three months. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Everi

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVRI. Glazer Capital LLC acquired a new position in Everi during the third quarter valued at approximately $33,507,000. Alpine Associates Management Inc. acquired a new stake in Everi in the third quarter worth $24,815,000. Clearbridge Investments LLC boosted its position 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 worth $23,400,000 after purchasing an additional 1,282,682 shares in the last quarter. Westchester Capital Management LLC acquired a new position in shares of Everi in the 3rd quarter valued at $16,662,000. Finally, Sand Grove Capital Management LLP bought a new stake in shares of Everi in the 3rd quarter valued at $15,806,000. 95.47% of the stock is owned by 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.