Short Interest in Everi Holdings Inc. (NYSE:EVRI) Expands By 6.3%

Everi Holdings Inc. (NYSE:EVRI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 3,060,000 shares, a growth of 6.3% from the August 31st total of 2,880,000 shares. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 3.7% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have issued reports on EVRI. Raymond James restated a “market perform” rating on shares of Everi in a report on Monday, July 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.25 price target (up from $11.00) on shares of Everi in a report on Wednesday, July 31st. B. Riley raised their price objective on shares of Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a report on Monday, August 5th. Truist Financial dropped their target price on shares of Everi from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Finally, StockNews.com started coverage on shares of Everi in a research report on Tuesday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Everi currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Everi Price Performance

EVRI opened at $13.15 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 3.94. The company’s 50-day moving average price is $12.78 and its 200 day moving average price is $9.92. Everi has a fifty-two week low of $6.37 and a fifty-two week high of $13.35. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 20.22 and a beta of 2.15.

Everi (NYSE:EVRI) last released its quarterly earnings data on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $191.19 million during the quarter, compared to analyst estimates of $190.00 million. Everi had a return on equity of 17.86% and a net margin of 5.42%. As a group, sell-side analysts expect that Everi will post 0.49 earnings per share for the current year.

Insider Activity at Everi

In other news, EVP Darren Simmons sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 190,425 shares of the company’s stock, valued at $2,494,567.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Darren Simmons sold 75,000 shares of the business’s 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 transaction, the executive vice president now directly owns 190,425 shares of the company’s stock, valued at $2,494,567.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Lucchese sold 4,124 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total transaction of $53,570.76. Following the sale, the executive vice president now directly owns 588,404 shares of the company’s stock, valued at $7,643,367.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,417 shares of company stock worth $1,713,281. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everi

Several hedge funds and other institutional investors have recently modified their holdings of the company. 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 buying an additional 1,282,682 shares during the period. Quarry LP boosted its position in Everi by 38.9% during the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after acquiring an additional 2,864 shares during the period. Creative Planning grew its stake in shares of Everi by 528.2% in the second quarter. Creative Planning now owns 65,041 shares of the credit services provider’s stock worth $546,000 after purchasing an additional 54,687 shares in the last quarter. Algert Global LLC grew its stake in shares of Everi by 815.1% in the second quarter. Algert Global LLC now owns 159,964 shares of the credit services provider’s stock worth $1,344,000 after purchasing an additional 142,484 shares in the last quarter. Finally, Long Pond Capital LP acquired a new position in shares of Everi during the second quarter valued at $4,453,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.