Everi (NYSE:EVRI) Sees Strong Trading Volume – Time to Buy?

Shares of Everi Holdings Inc. (NYSE:EVRI) saw unusually-strong trading volume on Friday . Approximately 2,557,703 shares were traded during mid-day trading, an increase of 221% from the previous session’s volume of 797,182 shares.The stock last traded at $13.50 and had previously closed at $13.65.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Everi from a “hold” rating to a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Everi currently has a consensus rating of “Hold” and an average price target of $12.83.

Everi Price Performance

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 company has a fifty day moving average price of $13.68 and a two-hundred day moving average price of $13.49. The company has a market cap of $1.17 billion, a P/E ratio of 89.91 and a beta of 1.57.

Insiders Place Their Bets

In other Everi news, Director Geoffrey P. Judge sold 7,332 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the sale, the director now owns 84,240 shares in the company, valued at $1,156,615.20. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its stake in Everi by 86.7% in the 3rd quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider’s stock valued at $2,141,000 after acquiring an additional 75,655 shares during the period. Franklin Resources Inc. raised its position in shares of Everi by 6.6% in the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after purchasing an additional 2,564 shares during the period. Geode Capital Management LLC lifted its stake in shares of Everi by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock worth $24,450,000 after buying an additional 27,670 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Everi by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock worth $172,000 after buying an additional 1,423 shares during the period. Finally, SG Americas Securities LLC grew its stake in Everi by 14.8% in the 4th quarter. SG Americas Securities LLC now owns 36,908 shares of the credit services provider’s stock valued at $499,000 after buying an additional 4,772 shares during the last quarter. 95.47% of the stock is 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.